By Vusi Thembekwayo
On April 12, 2025, Sunday World published an article under the headline: “Fraud allegations rock Vusi Thembekwayo and his entity”.
This report was a reckless exercise in targeted instrumentalisation, relying on unverified allegations from court documents that had not been served. By ignoring explicit notifications of non-service, the publication flagrantly breached the Press Code – specifically Clause 1.1 (Truth) and Clause 1.8 (Right of Reply).
Most egregiously, it omitted that the Financial Sector Conduct Authority (FSCA) had already investigated and cleared the firm, rendering the report a deliberate erasure of fact.
Such practices fuel the trust deficit South Africans have with the media. While the firm could have pursued aggressive litigation to address the severe reputational damage to our global clients and communities, we chose to use the Press Ombud to uphold institutional integrity. We believe in correcting the record through the proper democratic channels.
MyGrowthFund Venture Partners (now 1:54 Ventures) is a pioneer in African Venture Capital. Our work has directly funded or incubated 189 businesses, created over 2 500 audited jobs, and provided free infrastructure to 540 000 entrepreneurs through our non-profit hubs. Our impact is supported by leading partners, including the World Bank, Sharjah Investment Authority and FIS Global.
At the helm is Vusi Thembekwayo, a globally respected CEO with a 20-year track record in ethical business. He has led companies, both emerging and JSE-listed, and earned international awards as an impact investor, and is a part of the fabric of the South African business landscape.
This resolution with Sunday World’s new leadership corrects a profound injustice. We remain undeterred in our mission to build 300 sustainable businesses and 100 000 jobs by 2030.
We are not defined by reckless headlines, but by two decades of excellence and an unwavering commitment to the 54 nations of Africa.
