The Nelson Mandela Children's Fund was "unaware" of having received any money from German arms manufacturer Thyssen-Krupp during the arms deal.

"Thus far, we are unaware of any transaction entry from Thyssen-Krupp," Fund CEO Sibongile Mkhabela wrote in a statement on Wednesday.

It would convene its board of trustees to establish the "factuality" of Independent Democrats leader Patricia De Lille's claims.

Speaking in the National Assembly on Tuesday, De Lille said the ANC and the Nelson Mandela Children's Fund benefited inappropriately from the arms deal.

"I can now confirm that on the 29th of January 1999 the following organisations each received R500,000 from Thyssen-Krupp -- African National Congress, Nelson Mandela Children's Fund, Community Development Foundation.

"The money was paid into an account in Switzerland at Credit Swiss First Boston bank," De Lille said.

Mkhabela hoped the meeting would shed more light on the matter and enable it to decide on an appropriate course of action.

The Fund was a public organisation that received money in good faith from individuals and companies.

With acknowledgement to Sapa.