uMkhonto weSizwe (MK) Party president Jacob Zuma will now take charge of the party's finances after revoking all signing authority on the party's bank accounts from all party officials, including the treasurer-general and secretary-general.

The Mail & Guardian is in possession of a letter dated 23 July in which Zuma communicated his decision to all national, provincial, regional and other relevant party structures.

The publication understands that Zuma's decision comes after several senior party members were accused by other senior party members of stealing funds from the organisation.

Two weeks ago, the Sunday World reported that the landlord of a building rented by the MK Party in Polokwane for office space had sent a scathing letter to the organisation's administrator, Thabisile Khumalo, demanding that Zuma's party vacate the leased premises because of outstanding rent.

In the letter, seen by the M&G, Zuma said that, in his capacity as president and accounting officer of the MK Party and in the interest of ensuring sound financial governance, accountability and the orderly administration of the party's financial affairs, "I hereby give notice that all existing signing authority on the MK Party's bank accounts is revoked with immediate effect". 

He said the measure is temporary and will remain in force until further notice.

"During this period, no existing signatory shall exercise any signing authority on behalf of the Party in respect of any MK Party bank account.

"All financial institutions where the party maintains banking facilities are to recognise this temporary suspension of signing authority.

"Any transactions requiring authorised signatories shall be processed only once the new mandate has been communicated."

Zuma added that, at the conclusion of the temporary suspension of signing powers, a formal communication will be issued confirming the reinstatement of signing authority, together with the names of the duly authorised signatories who will be mandated to operate the party's bank accounts going forward.

"All officials are requested to cooperate fully with this administrative process to ensure continuity, transparency and the integrity of the Party's financial management. Your understanding and cooperation are appreciated."