Sunday World reports that UK based South African Billionaire, Zoliwe Macanda-Simbodyal is left with only €100 in her Standard Bank account that is supposed to have €2,7 billion.

The newspaper said Zoliwe ‘s company, Bele Holdings, partnered with three London based investors who deposited the money into her foreign currency account for energy projects in Nigeria and Papua New Guinea valued at €23 Billion.

After getting the proof of payment from Gcube Underwriting (€1,5 Billion) , Polireddy Yannam (€950 million), Zoliwe started to pay for goods and services for the projects to Nigerian suppliers and service providers.

Zoliwe has now approached the Johannesburg High Court through her lawyers, Thando Faku, seeking an order for Standard Bank to release the money.


In their response, Standard bank said the proof of payment that Zoliwe was given by her overseas partners were fake. The bank says Zoliwe does not seem to know how the Swift system works.

The bank said Zoliwe only had €100 in her in her FCA.

Zoliwe is the CEO of Chun Can Capital Group. She was also previously a senior executive at Ubank, according to her LinkedIn profile.

Please read the full story in today’s Sunday World Newspaper – 20 March 2022.