The Zondo commission of inquiry into state capture heard on Tuesday that R2.3m siphoned from Umhlathuze Water was allegedly laundered in 2015 using various companies.
Mr X's company transferred a further R850,000 to Sifezakonke a day later.
On February 11, Isibonelo transferred another R1m from its business account to a money-market account. Asked why he did this, Mr X said: “Isibonelo had a separate account, which was a money-market account. As a legitimate business we did business on our own, which we would be paid for, but then there was money in our account which was not ours.“So we had to shift the money from Klomac, which was not ours, so we could receive our own income without confusion.”
The R1m that was transferred from Isibonelo's business account to its money-market account was transferred back to the business account on March 9.The witness was also probed on whether Majola ever requested cash payments from the monies paid to Isibonelo by Umhlathuze suppliers. “Sometimes he would request hard cash, but it was never equal to the [amounts transferred] because of bank limits,” he said.
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