IDT says no 'golden handshake' for CEO Tebogo Malaka

The government-owned Independent Development Trust (IDT) said that there won’t be a golden handshake for its controversial CEO, Tebogo Malaka, whose tenure comes to an end in January.

The entity announced on Wednesday that Malaka has resigned from her position, effective from 31 January.

It said she won’t be receiving an exit payout.

Her exit brings to an end a tumultuous period at the helm of the entity that falls under the Department of Public Works.

In August, Malaka was caught on video allegedly trying to bribe Daily Maverick’s investigative journalist, Pieter-Louis Myburgh.

She was trying to keep a story implicating her in the irregular R836 million oxygen tender quiet.

A forensic investigation into the tender alleged Malaka facilitated for the tender to be given to an unqualified company.

Malaka has publicly denied all allegations against her.

In the meantime, Minister of Public Works Dean Macpherson has welcomed her resignation.

“Importantly, her resignation doesn’t stay or waiver the current criminal or civil proceedings that may arise,” the minister added.

Sfiso Nsibande will continue as the IDT’s Acting CEO.