Khandani Msibi, executive chair of 3Sixty Global Solutions Group and Doves Group Holdings, both owned by the National Union of Metalworkers of SA’s (Numsa) investment arm, has challenged the union to convene its central committee — the highest decision-making body between national congresses — to explain how he came to own a 60% stake in the Numsa Investment Company (NIC).In a statement last week, Numsa general secretary Irvin Jim accused Msibi of being “reckless in attacking the union and its leadership” through the media, describing him as a rogue and corrupt executive who was driving the NIC towards collapse by “stealing the investment company and the shares of its subsidiaries”.Jim and Msibi have been taking jabs at each other on social media platform X (Twitter), with each party alleging corruption and wrongdoing against the other. Jim accused Msibi of having deliberately “withheld information and obstructed financial reporting and auditing for six years”. “Against this backdrop, he was able to make decisions to his own benefit, using the advantages he created for himself to selfishly gain, and we can tell Numsa members and the public how he coerced, rewarded and dismissed staff who stood for the morality and values that Numsa continues to advance.“He deployed people to positions and used them as tools, driven by an attitude that sought to advance corruption,” Jim said. “He remotely controlled the NIC for his own benefit, yet he has the audacity to attack Numsa leadership, including the board of the investment company, on social media, even going to media houses like Newzroom Afrika to tell lies and present himself as a victim, despite having defrauded workers of their hard work. What rogue criminal element is this who has captured the investment company? From where we stand, with all our rights reserved, our experience of him leaves us with no choice but to regard him as a criminal who belongs in jail. Unless we are proven wrong by a court of law, we see a person who has consistently opposed any form of due diligence, forensic audits and accountability.” Msibi is a liar .. i have seen this .. he should be stripped of Directors on the basis of fit & proper. Delinquent Director..— Irvin Jim (@IrvinJimSA) July 30, 2026 Jim dismissed what he said was a “laughable claim” that Msibi owned 60% of the NIC, “where he claims to be a majority shareholder”. “He was asked whether, as an accounting officer, he conducted a market evaluation of the shares before selling them, in line with corporate governance, and whether, as the CEO, he exercised impartiality before selling shares to himself. It has never been seen in the world where a CEO can sell shares to himself without any third party being involved, as anything less would be a conflict of interest and is tantamount to corruption,” the Numsa general secretary said. “He has been given an opportunity to answer detailed questions that could have exonerated him if he were honest. Instead of answering these questions, he gave the middle finger to Numsa and the board of directors of NIC and all its subsidiaries.” On Friday, Msibi hit back, saying the shares were paid for and could prove it. “In fact, the debt runs the other way. Money is owed to me, and the process to recover it has already begun. Then there is his claim that I sold shares to myself with nobody else involved. That is settled by looking at who signed,” he said. “The seller’s side was signed by the chairman of the Numsa Investment Company, Professor Kwandiwe Kondlo. Dr Osborn Mahanjana, now acting CEO of the NIC and the man deposing to affidavits against me, was part of the buying consortium and a shareholder in Komz Investment. “Ms Thembi Mathunda was also part of that consortium. The Eriotrax transfer was signed by Mr Jim himself. So, when he asks whether any third party was involved, the answer is that the chairman, the acting CEO and the general secretary were all in the room. He does not need to ask me. He can ask them,” Msibi said. On Jim’s claim that there had been no financials for six years, Msibi said every operating company in the group had audited annual financial statements. “What is outstanding is the group consolidation, and the reason is that 3Sixty Life has been under curatorship for five years. “When a company goes under curatorship, it is taken out of its directors’ hands and answers to the court and the regulator. You cannot consolidate a company you do not control. That is public record, and Mr Jim knows it.” Msibi said every one of Jim’s questions could have been answered in a single afternoon before the Numsa central committee, “with the documents on the table and the union’s own board deployees in the room. I asked in writing to be heard there. Mr Jim refused. When I was finally let in, I was given thirty minutes and told I would be called back. I never was. He walked out of that meeting, and my suspension [as NIC CEO] followed. “The offer still stands. Convene the central committee. I will bring the agreements, the signature pages, the share register, the proof of payment and the audited statements and put them in front of the members who own this company,” said Msibi. “My attorneys have been instructed regarding the defamatory content of the 30 July statement, and my rights are reserved.”