Sipho Maseko Companies Pay Tax Fines

Five entities directed by the Shoprite board member paid R85,000 in admission-of-guilt fines to the revenue service.

Updated on Oct. 23, 2026 in Financial Crime

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Five companies directed by Sipho Maseko have paid R85,000 in admission-of-guilt fines following legal action by the South African Revenue Service. The payments settle charges related to the failure to submit tax returns, and Maseko has not been convicted of any offense.

Why it matters

The disclosure follows transparency requirements for company directors regarding their regulatory compliance. The fines resolve charges concerning the non-submission of Pay As You Earn, value-added tax, and corporate income tax returns.

Five companies were fined a total of R85,000 for failing to submit statutory tax returns to the South African Revenue Service. The legal proceedings were conducted under the Criminal Procedure Act 51 of 1977.

The players

Sipho Maseko

He is a current director at Shoprite who previously served as the CEO of both Telkom and BP Southern Africa.

South African Revenue Service

This is the national tax authority of South Africa responsible for the collection of taxes and customs duties.

Shoprite

This is a major South African retail company that publicly disclosed the tax compliance matter involving its director.

National Prosecuting Authority

This body is the prosecuting authority in South Africa that handles criminal cases and works alongside various investigative agencies.

Directorate for Priority Crime Investigation

Also known as the Hawks, this unit is tasked with investigating high-level national criminal activities.

The details

The companies involved are One Fountain Properties, One Fountain Industries, One Fountain Capital, Afrifund Advisory Services, and Afrifund Investments. Maseko updated his director's declaration in accordance with JSE Listings Requirements following the conclusion of the matter.

Sipho Maseko served as CEO of BP Southern Africa from 2008 to 2012.
Sipho Maseko served as CEO of Telkom from 2013 to 2021.
Sipho Maseko became a director at Shoprite in June 2023.
Shoprite issued a notice to shareholders regarding the fines on 23 October 2026.

Legal Context

The disclosure follows transparency obligations mandated by the JSE Listings Requirements for company directors. These actions occur under the regulatory framework of the Criminal Procedure Act 51 of 1977, which allows for admission-of-guilt fines to settle specific regulatory failures.

The incident highlights the operational importance of tax return compliance for entities managed by high-profile corporate directors. Local stakeholders and shareholders are now informed of these regulatory settlements through official disclosure channels.

The takeaway

Transparency regarding regulatory compliance remains a critical expectation for leadership within major listed companies. Corporate directors must ensure that all associated private entities remain fully compliant with national tax filing obligations to avoid legal scrutiny.