Saturday , April 17 2021

Mathabatha wants VBS to save, promises action against those who are involved

Limpopo is Prime Minister Stan Mathabatha. Image Shipped

Polokwane – Limpopo's premier Stan Mathabatha says his province will lobby for the bankruptcy bank Venda Building Society to save itself.

Mathabatha announced on Wednesday that his provincial government was conducting a forensic investigation into VBS scandal.

The report, commissioned by the SA Reserve Bank, found that 53 people received various illegal payments from VBS for several years.

Payments amounted to 1.89 billion R.

These illegal payments put the risk of investors at risk.

Mathabath's bank rescue calls were contradicted by numerous attitudes.

Attorney Terry Motau, who led the bank's investigation, said in a report titled "The Great Bank Heist" that the bank was unlikely to be saved.

Still, opposition parties like the EFF had similar calls to Mathabathi. The party calls for a bank to see the African Bank as an example of a bank that was rescued when faced with bankruptcy and closure.

Pressure is being extended to the authorities to investigate the case and to arrest all those involved.

Mathabatha said that several of the chief financial officers (CFOs) and municipal managers who led the municipalities losing money to the VBS were suspended.

He promised more responsibilities by saying that more CFOs and managers would be responsible.

He said the province was trying to help municipalities struggling financially.

Mathabatha faced questions about what ANC would do with their individuals involved in VBS robberies.

Two ANC officials in the province, Mayor Vhembe Florence Radzilani and Provincial Treasurer ANC Dan Msiza, were included in the report.

Mathabatha said that House Luthuli would point the province to what would happen to its officials.

This is while the committee on integrity of the party recommends that officials involved in the scandal should depart.

This recommendation was left to the National Executive Board (NEC), which ultimately sent it to the National Labor Commission for a final decision.

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