By Lehlohonolo Lehana.
National Union of Metalworkers of South Africa (NUMSA) general secretary Irvin Jim refuted the allegations that he orchestrated the Numsa Investment Company (NIC) CEO Khandani Msibi’s suspension nor he misused company funds.
Msibi was placed on a precautionary suspension by the NIC board over allegations of gross misconduct and failure to execute his duties with integrity.
At the centre of the dispute is the collapse of Sizwe Hosmed Medical Scheme, which has seen a dramatic dip in its solvency ratio – from 36.5% in 2021 to 6.6% – leading to the Council for Medical Schemes placing the medical scheme under curatorship.
Sizwe Hosmed is administered by 3Sixty Health, a subsidiary of 3Sixty Life, of which Msibi is executive chairperson.
Msibi has denied any wrongdoing, stating that group consolidation was legally impossible while 3Sixty Life remained under curatorship.
He has challenged Jim to face an open central committee meeting with financial documents on the table, while also threatening legal action over defamatory statements.
Msibi has accused the Numsa boss of “conducting a concerted campaign to destroy 3Sixty Health”.
He is also demanding that the board provide more details on the allegations.
Speaking to Newzroom Afrika on Monday evening, Jim disputed the claims that he orchestrated Msibi’s suspension nor he misused company funds.
Jim said that the allegations against him are without merit.
He accused Msibi of having deliberately “withholding information and obstructed financial reporting and auditing for six years”.
Msibi, who has declared the planned suspension “null and void”, has been locked in a fierce battle with Jim amid allegations of corruption and financial misconduct triggered by the collapse of a multimillion-rand healthcare investment.