Alex Japho Matlala
2 minute read
27 Jan 2021
4:47 am

Treasury letters allegedly ignored

Alex Japho Matlala

Investments by officials in contravention of Act deemed illegal.

Limpopo Premier Stan Mathabatha. Picture: Gallo Images/Sowetan/Sandile Ndlovu

A Limpopo municipal council has allegedly decided to defy an order by Limpopo premier Stan Mathabatha and the ANC provincial executive committee (PEC) to take action against officials and politicians alleged to have invested municipal millions of rands into the collapsed VBS Mutual Bank. In March last year, the Limpopo provincial treasury wrote letters to municipalities in the province which had invested money in the bank. The letters advised action be taken against municipal officials and politicians who had a hand in investing municipal funds into the bank. About 16 municipalities in Limpopo, Gauteng and North West invested R1.57 billion...