VBS bank scandal haunts Limpopo mayor
Tshifhango is accused of failing to provide leadership when the council invested R30 million into the VBS Mutual Bank.
The future of a Limpopo mayor entangled in the investment of municipal millions into the collapsed VBS Mutual Bank looks bleak.
The dealings of the mayor for Thulamela municipality, Avhashoni Tshifhango, topped the agenda during the Limpopo ANC’s provincial executive committee (PEC) meeting held in Polokwane at the weekend.
ALSO READ: Why did Shivambu repay VBS’ R4.5 million if there was no corruption?
Tshifhango is accused of failing to provide leadership when the council invested R30 million into the VBS Mutual Bank.
The ANC-led council claims Tshifhango and his manager should have advised them in 2017 against the investment.
About 15 municipalities from North West, Gauteng and Limpopo invested more than R1.5 billion into the bank, against the advice of Treasury. Seven mayors were later fired.
Tshifhango and three others were spared because their investment was returned and no financial loss was returned.
“We can confirm the matter involving Tshifhango has been brought to our attention,” said Limpopo ANC provincial spokesman Donald Selamolela at the weekend. “It will be discussed during the PEC sitting.” Tshifhango had not commented at the time of going to press.
