DA to visit municipalities implicated in VBS scandal

The leader of the Democratic Alliance (DA) Mmusi Maimane says the party will on Tuesday go to all the municipalities implicated in the VBS Mutual Bank scandal.

Fourteen municipalities from Gauteng, North West, and Limpopo reportedly illegally deposited an estimated R1.5 billion to the bank.

The South African Reserve Bank (Sarb) commissioned report titled The Great Bank Heist was released recently and details the alleged looting of the bank.

EWN reports that Maimane said the DA will take action to ensure that persons implicated in the VBS scandal as well as the political parties they represent will be held accountable for the scandal surrounding the bank.

It was further reported that the chief financial officer of the Greater Giyani Municipality, Hitler Maluleke, has been axed from his position for allegedly approving the investment of R161 million into the bank.

In a statement on Monday, DA Limpopo premier candidate Jacques Smalle, Solly Malatsi, and Magashule Gana said they will lead a march to submit a memorandum of demands to the Limpopo Premier Stan Mathabatha to immediately take action against all individuals who are implicated in the multi-billion rand VBS Mutual Bank scandal.

“The march comes after Premier Mathabatha failed to suspend all public representatives and top ANC officials implicated in the South African Reserve Bank (Sarb) The Great Bank Heist report,” the statement reads.

“The VBS scandal has already put numerous municipalities at risk of losing municipal funds such as Vhembe, Elias Motsoaledi, Greater Giyani, Fetakgomo-Tubatse, and Makhado.”

The party said Smalle, Malatsi, and Gana will be joined by other DA MPs, MPLs, councillors, and DA activists.

“In building one South Africa for all, we must take a hardline approach against corruption, which steals opportunities from our people.”

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