OFFICIAL RESPONSE TO SUNDAY WORLD ARTICLE

For Immediate Release
Date: 13 April 2025

Hello Family,

I have taken note of the article published by Sunday World on 13 April 2025, titled “Fraud allegations rock Vusi Thembekwayo and his entity.”

The article makes reference to an ongoing civil dispute involving Mr. Justin Rovian Naidoo and presents a misleading and incomplete narrative that I am compelled to correct.

This response is issued in the interest of transparency, factual accuracy, and public accountability.

1. The Fraud Allegation

In July 2023, lawyers acting on behalf of Mr. Justin Rovian Naidoo and others issued a letter of demand containing a litany of frivolous and baseless allegations. The letter threatened that unless a financial demand was met, they would “investigate unethical conduct” and report it to governing bodies.

This was a clear attempt at extortion — and I will never tolerate extortion, intimidation, or any misuse of the legal system to achieve illegitimate outcomes.

Importantly, fraud is a criminal offence, not a matter for civil litigation. If Mr. Justin Rovian Naidoo genuinely believed fraud had occurred, the appropriate course of action would have been to open a criminal case with the South African Police Service — a step I have invited him to take several times.

He has chosen not to, because no fraud occurred.

To date, no criminal case has ever been opened, because the allegation is entirely untrue, baseless & sensationalist. 2. The FSCA Inquiry

Following our refusal to submit to extortion, Mr. Naidoo acted in concert with others to lodge a complaint with the Financial Sector Conduct Authority (FSCA).

In line with its mandate, the FSCA initiated a preliminary inquiry into the affairs of MyGrowthFund Venture Partners (MGFVP) and myself.

I must say the FSCA was thorough, professional and truth-seeking.

On 4 November 2024, the FSCA formally wrote to our offices outlining allegations related to governance, services rendered, and directorship conduct.

We cooperated fully, submitting a comprehensive and detailed response supported by documentation and professional records.

On 15 January 2025, the FSCA concluded its investigation and issued the following formal statement:
“We would like to inform you that our investigation has concluded... there is no reasonable suspicion of a financial sector law contravention. As a result, the matter has been closed.”

This conclusive finding by the FSCA fully exonerates both me and MyGrowthFund.

That the Sunday World article failed to include this material fact is both negligent and deeply irresponsible.

(1/15)

They say all it takes to have a ‘trending’ podcast is…

Two microphones, a couple of cameras, some gossip, and access to alcohol.

But, how accurate is this statement? (2/15)

Well, why should I have two cameras, you may ask? Because in the podcasting world, symmetry is key. Two hosts, two mics, and a few cameras to capture every eyebrow raise and dramatic pause…

blog.pacific-content.com/when-two-are-b…

(1/24)

The Dark Side of AI: Bias, Discrimination and Manipulation twitter.com/i/web/status/1… (2/24)

AI has made great strides in recent years, offering many benefits and the potential to change our lives. But as we explore AI further, we need to confront the dark side that accompanies its development and deployment.

What is insane is the amount of abuse and trolling I endured for making this statement.

I believed it then.
And I stand by it still.

https://twitter.com/asiseeit81/status/1662833509851975680

Notice how those that were angry at my comments are not as angry at the poorly state of Africa and Africans today.

The most talented Africans are leaving because Africa is being managed greed slaves still thinking and acting like slaves.

(1/17)

AI Robot as CEO: Company Shatters Stock Market Records with Unprecedented Profits twitter.com/i/web/status/1… (2/17)

In a ground-breaking move, a gaming company in Hong Kong appointed an AI robot as its CEO, signalling the growing potential of artificial intelligence to assume human roles.

(1/17)

Unleashing the Secret: The Surprising Differences Between Venture Capitalists and Angel Investors (2/17)

When it comes to raising funds for start-ups, two of the most commonly used types of investors are venture capitalists (VCs) and angel investors.

While both of these investors may provide financial support to start-ups, there are key differences between the two.

(1/18)

Venture Capital: History, Culture, and Biggest Busts

Venture capital is a form of private equity financing provided to startups, early-stage, and emerging companies that have demonstrated a high rate of growth. (2/18)

In the business world, venture capital drives innovation and growth, but it wasn't always so.

The venture capital industry experienced significant development following World War II, and its roots in the United States date back to the 1940s and 1950s.

(1/22)

Marketing... Expensive—But Worth It

Marketing at the core of every business's ability to make money… but does it really have to cost an arm and a leg? (2/22)

Despite what some may think, marketing is not just an expense. All successful businesses rely on it to generate revenue.

(1/24)

How do companies choose their names?

There are many factors to consider when choosing a business name.

You have to take into account things like what type of product you're selling, what kind of clientele you're targeting, and even if it's a personal project or not. (2/24)

Brand power plays a significant role in determining your trademark's perceived value and how much customers are willing to spend on your products.

(1/22)

Data Harvesting: The Good, The Bad, and The Ugly.

Despite knowing there are various ways in which companies can track our information, do we really know what they are doing with it? (2/22)

While Facebook and other companies may claim to protect your privacy, they aren't going to need the personal information you provide to determine exactly who you are and what you'll do next.

The recent closure of the Mara Phones factory in South Africa opens up a wound that is hard for most entrepreneurs to deal with:

You are told to take the risk, risk your money and your career to start a business.
You are laughed at if things don't work out.

A thread ... The Mara Phones story is a reflection of the aspirations of Africa.

We gleefully proclaim that Africa is rising. The macro data & the conference PowerPoint presentations are littered with data on the economic potential of Africa.

But the question is, are Afri-CANS rising?

Did you know that the map of the world is incorrect?

But what I can't figure out, is this, "why can't African countries themselves start printing the correct dimensions of the world map?"

Or is my thinking simplistic?

Cred @SayginYalcin And by the way, I know about the history of the world map & how it was used to teach and justify the exploitation of Africa and Africans.

I know the history.

What I am asking is why must Africa wait for the world to "fix this"?

We are seeing another moment in technology history where smart money must distinguish the "leading edge" & the "bleeding edge."

The rate at which technology changes, means the incumbent can become the underdog in a half-sprint. When Snow's smash hit song "Informer" dropped in his 1992 debut album, it was as if the earth stood still. If only for a brief moment.

The flow & the beat caught the attention of contemporary culture and music critics across the globe. Yet, nobody really knew the lyrics.

The greatest fallacy of our modern economic times is that poor people are poor because they are lazy.

It implies that hard work is all that’s required to lift yourself from poverty.

Not true. Poverty is a function of an enabling environment, a lack of access to opportunities & a social malaise that sets in to communities that are homes to the poor.

And the worst of these is manifest in the savior syndrome: a favorite dietary requirement of corrupt politicians.