Alex Japho Matlala
2 minute read
3 Jun 2021
4:30 am

Limpopo MEC gives municipality ultimatum over VBS saga

Alex Japho Matlala

The municipality invested R30 million with VBS Mutual Bank. The investment was later deemed illegal and in contravention of the MFMA.

Limpopo MEC for cooperative governance, human settlement and traditional affairs Basikopo Makamu has given the Thulamela local municipality in the Vhembe region an ultimatum. This is with regard to the implementation of the remedial actions against those who invested municipal funds into the collapsed VBS Mutual Bank. Makamu, who is also Limpopo ANC deputy secretary, has given the council seven working days to implement the remedial actions as per the recommendations of the provincial Treasury. ALSO READ: R180 million corruption allegations see Hawks raid Limpopo municipality The municipality invested R30 million with the bank. The investment was later deemed illegal...