ANC received R2m donation from VBS - report

2018-10-28 09:26
VBS Mutual Bank moes byna 80% van sy personeel afdank weens kontantvloeiprobleme.

VBS Mutual Bank moes byna 80% van sy personeel afdank weens kontantvloeiprobleme.

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WATCH: 'Pay back the money' - MP's jeer at EFF's Floyd Shivambu in ironic turn of events

2018-10-24 14:51

EFF chief whip Floyd Shivambu found himself on the receiving end of MP's jeering in Parliament, when he was heckled to "pay back the money" during a debate on the VBS Mutual Bank scandal. Watch. WATCH

The ANC allegedly received a R2m "donation" from the VBS Mutual Bank bosses, the Sunday Times reported. The paper reportedly has WhatsApp messages in which the money is referred to.

The party told the Sunday Times that it would launch its own investigation into the allegations, and said it only had a record of R250 000 received from VBS to buy a table at its R106th birthday celebrations in East London, earlier this year.

The ANC reportedly said it would pay back the money, should the Sunday Times' report prove to be true.

According to the Sunday Times, it is alleged that minister for cooperative governance and traditional affairs Zweli Mkhize asked for a R2m donation from Vele Investments, majority shareholder at VBS, in 2016, during the ANC's election campaign.

Last week, the ANC called for swift action against those implication in the VBS scandal, News24 reported. A Reserve Bank investigation found that almost R2bn was looted and diverted to politicians and well-connected people. The report, compiled by advocate Terry Motau, found the VBS executives undertook a deliberate campaign to bribe officials at local municipalities to make irregular deposits at the bank.

Mkhize said he "strongly condemned the wanton fraud displayed in this saga".

"We all agree this never should have happened," he said.

On Friday, News24 reported that ANC Limpopo treasurer Danny Msiza intends heading to court to challenge the Motau report. In court papers, Msiza wants sections in which he is named as fixer, who allegedly leaned on municipalities to deposit funds in VBS, removed.

"The findings/remarks and conclusions reached by the first respondent (Motau) about me, fall to be reviewed and set aside on grounds that I deal with herein later and those I have already flagged above," Msiza's affidavit reads. 

On Friday, the Mail & Guardian reported that EFF leader Julius Malema’s cousin's company received suspicious payments from his deputy Floyd Shivambu’s brother’s bank account. Brian Shivambu was also named as one of the beneficiaries of millions from VBS in the report. Brian Shivambu said he was a consultant for one of the VBS shareholders and said the money he received was from legitimate payments.

According to Sunday Times on Sunday, WhatsApps and emails also show attempts by the VBS executives to mislead the Reserve Bank to cover up their fraud. In the exchanges, VBS majority shareholder Tshifhiwa Matodzi, CEO of Vele Investments, and the former head of the treasury at VBS bank, Phophi Mukhodobwane, allegedly had discussions about shifting funds between accounts to hide the bank's true state of affairs from regulators.

Read more on:    anc  |  vbs mutual bank

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