If we are serious about growing the economy and creating jobs, we need to support these young people – even though they don't seem to expect any help or handouts, writes Melanie Verwoerd.
Showers late. More sun than clouds. Mild.
The EFF leader’s brother has had an astonishing reversal of fortunes. Early this year he could afford no more than R5 000 per month to pay his enormous VBS debt. Last month he suddenly had R1m and this week he had another R2m to throw at the problem. Where he got it, no one knows.
An investigation by Scorpio has revealed that money stolen from VBS Mutual Bank funded the EFF's fourth birthday bash, which was held at a popular party venue in Umlazi, Durban.
The council of the Merafong municipality has resolved to implement recommendations in the VBS Mutual Bank report which include disciplinary action and civil and criminal charges.
The PIC has Scopa it is pursuing those responsible for VBS-related losses, and awaiting the outcome of a PwC forensic investigation into Steinhoff before making a decision.
Former president Jacob Zuma is still required to honour monthly payments for his home loan at VBS Mutual Bank.
EFF leader Julius Malema says we should be ashamed that we folded our arms and let VBS bank be liquidated.
Seven municipalities in Limpopo are on the brink of insolvency and could be placed under administration after they lost hundreds of millions of rands in investments into VBS Mutual Bank.
EFF MP Mbuyiseni Ndlozi has rubbished the forensic report into large-scale looting at VBS Mutual Bank, in which the brother of the party's chief whip, Floyd Shivambu, was implicated.
The Hawks have already obtained 65 witness statements in their investigation into VBS Mutual Bank, Parliament's Standing Committee on Finance has heard.
National Treasury and the Reserve Bank only realised in 2017 that the municipal deposits into VBS Mutual Bank were illegal, former finance minister Nhlanhla Nene has said.
The liquidators of VBS Mutual Bank have served papers on former president Jacob Zuma demanding repayment of a mortgage loan of more than R7m, failing which they are asking the court to attach his Nkandla property to recoup the money.
The total cost of placing VBS Mutual Bank under curatorship amounted to R21.6m, Finance Minister Tito Mboweni has said.
The ANC in Gauteng has decided to refer mayors from two of its municipalities in the West Rand to its provincial integrity commission over the VBS scandal, while its council in Emfuleni will elect a new mayor.
Seven mayors in the North West, including four implicated in a report on the collapse of VBS Mutual Bank, are refusing to resign in spite of being instructed to do so by the ANC's provincial task team.
Eight municipalities from the North West were placed under administration in September alone.
The South African Local Government Association was not aware of VBS's issues until it was too late, national executive committee member Bhekumuzi Stofile has told Parliament.
Former North West premier Supra Mahumapelo has rubbished claims that he "vigorously encouraged" municipalities in his province to invest R314m with now collapsed VBS Mutual Bank.
Limpopo Premier Stan Mathabatha was at pains to explain the VBS saga as public pressure mounts on the government and ruling party to act against those implicated.
VBS scandal: Limpopo premier at pains to explain why no action has been taken against implicated politicians
One of the main lessons from the VBS Bank collapse in South Africa is that audit reports need to be treated with a degree of circumspection. In some cases they will require independent verification.
Even though increases in allocations to municipalities were above inflation, they were not enough to pull them out of their various financial quandaries, says Salga.
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