Dondo Mogajane resigns all posts amid VBS Bank allegations ...

The former national treasury director-general and chairman of the Government Employees Pension Fund, Dondo Mogajane, has resigned from all professional roles and board positions. (Dwayne Senior/Bloomberg/Getty Images)

The former national treasury director-general and chairman of the Government Employees Pension Fund, Dondo Mogajane, has resigned from all professional roles and board positions following what he said were “unfounded and malicious” allegations made by a convicted criminal.

Mogajane, who was also CEO of the Moti Group, said that he would take an extended sabbatical to focus on personal well-being and spend time with his family.

In July this year, he was implicated in bribery by the former chairperson of the now defunct VBS Mutual Bank, Tshifhiwa Matodzi.

Matodzi is serving a 15-year jail term for being the “mastermind” behind the money laundering, corruption, theft and fraud at the bank that led to its 2018 collapse and the loss of about R2 billion.

His affidavit was leaked after he reached a plea agreement with the National Prosecuting Authority. In it, he made allegations about several politicians and officials, including Mogajane, who he said had accepted a R1 million bribe to avoid pressuring municipalities to withdraw unlawful investments from the bank.

Mogajane vehemently denied the allegations when the affidavit was leaked, saying he served at the treasury with “distinction, honesty, loyalty and humility”.

In a statement issued on Monday, Mogajane said he was confident that his reputation would be restored.

“I believe in the importance of due process and remain confident that, in time, the truth will prevail,” he said.

He would use his sabbatical to reflect on his career and to write a memoir detailing his experiences in public service.“While this chapter of my career has drawn to a close, it is not the conclusion of my story. This period marks a pause, not an endpoint. At a later stage, I may decide to possibly re-enter the private sector and maybe even politics,” he said.