Lawmakers find EFF’s Shivambu failed to disclose R180k VBS bank payments

Parliament’s acting Registrar of Members’ Interests, advocate Anthea Gordon, revealed Economic Freedom Fighters (EFF) deputy president Floyd Shivambu failed to disclose three payments from VBS Bank.

The details were shared in a letter by Gordon to former Democratic Alliance (DA) MP Phumzile Karlsen on Monday.

“I write on behalf of the Joint Committee on Ethics and Members’ Interests (‘the committee’) who at its meeting on 28 September 2023 finalised its deliberations on your complaint dated 18 October 2019 against Hon. Shivambu, MP.”

VBS Bank money

Gordon said the complaint “related to the Venda Mutual Bank Society (VBS) scandal”.

“The committee obtained an affidavit by the liquidator in the VBS liquidation matter which identified that three payments were made to Floyd Shivambu […] by Sgameka Projects Pty Ltd [the company of Shivambu’s brother, Brian] during 2017.”

The payments are:

• 18 August 2017: R100 000
• 24 August 2017: R30 000
• 26 August 2017: R50 000

“The committee noted that these three payments were not disclosed by Hon. Shivambu MP […] The Committee found that Hon Shivambu, MP breached item 10.1.1.1 of the Code of Ethical Conduct and Disclosure of Members’ Interests for failing to comply with the requirements of the provisions for disclosing financial interest,” Gordon said.

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Sanction

Gordon said the committee will recommend a sanction for the EFF deputy president in terms of item 10.7.7.1 (iii) of the code be imposed.

“Item 10.7.7.1 (iii) provides for a sanction of a reduction of salary or allowances for a period not exceeding 30 days to be imposed.

“The Committee has resolved to recommend to the House to impose a reduction of salary of nine days salary,” Gordon said in the letter.

The DA first filed the complaint first in 2018 and again in 2019 when allegations surfaced that Shivambu was embroiled in what it called the “grand heist of savings of vulnerable depositors at VBS Bank.”

DA response

DA Chief Whip Siviwe Gwarube said the party welcomed the findings by the Ethics Committee, “although it has taken the committee four years to complete – because it demonstrates that there can never be one set of rules for some and exemptions for others.

“Shivambu’s failure to declare monies received through VBS cast doubt on all public statements he has made about this matter.

“We trust that law enforcement agencies will be reinvigorated in their hunt for the truth,” Gwarube said.

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