Today, the Johannesburg Specialised Commercial Crimes Court at Palm Ridge Magistrate’s Court approved R20,000 bail for Dr Nomsa Masuku, a commissioner with the Electoral Commission of South Africa (IEC). Masuku faced charges on Friday, June 21, for allegedly embezzling R1.2 million intended for bursaries and scholarships.
Masuku, formerly responsible for managing Standard Bank’s corporate social investment (CSI) programme, was implicated by the Hawks’ Serious Commercial Crime Investigation (SCCI).
According to Colonel Katlego Mogale, spokesperson for the Hawks, Masuku abused her position as head of the Adopt A School Trust under the bank’s programme. Allegedly, she diverted funds meant for educational support to friends and family, manipulating documents to authorize scholarships without proper committee approval. Approximately R1.2 million was reportedly funneled into her personal bank account.
The investigation commenced in 2022 following an internal probe by Standard Bank, which uncovered discrepancies prompting their alert to the Hawks. Masuku’s next court appearance is scheduled for September 4 at the Palm Ridge Magistrate’s Court.Dr Masuku, currently serving as one of five IEC commissioners, has had a career spanning both the public and private sectors, including her tenure at Standard Bank’s CSI division.
