PIC pursuing those responsible for VBS fallout, awaiting Steinhoff outcomes

2018-12-07 12:26

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.

Zuma must still pay back the VBS money

2018-11-27 07:51

Former president Jacob Zuma is still required to honour monthly payments for his home loan at VBS Mutual Bank.

'We should be ashamed VBS could not be saved' - Malema

2018-11-17 08:18

EFF leader Julius Malema says we should be ashamed that we folded our arms and let VBS bank be liquidated.

VBS saga: 7 Limpopo municipalities could be placed under administration

2018-11-14 17:54

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.

VBS scandal: EFF's Ndlozi says report implicating Brian Shivambu has 'too much fiction'

2018-11-07 22:33

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.

VBS looting 'racketeering of its worst' kind, Hawks interviewed 65 witnesses

2018-11-07 17:01

The Hawks have already obtained 65 witness statements in their investigation into VBS Mutual Bank, Parliament's Standing Committee on Finance has heard.

SARB, Treasury caught on late to illegal VBS deposits - Nene

2018-11-02 19:59

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.

We are not happy that VBS collapsed - Gungubele

2018-10-31 18:59

Following SARB's call for VBS Mutual Bank to be liquidated, Deputy Finance Minister Mondli Gungubele tells Parliament that government is open to changing legislation.

 

VBS looting: ANC mayors linked to banking scandal refuse to step down

2018-12-06 15:54

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.

24 municipalities now under administration

2018-11-18 07:13

Eight municipalities from the North West were placed under administration in September alone.

VBS blindsided us, admits local government body

2018-11-16 15:39

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.

I never told municipalities to support VBS - Supra Mahumapelo

2018-11-09 14:49

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.

VBS scandal: Limpopo premier at pains to explain why no action has been taken against mayors, politicians

2018-11-07 21:09

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

Explainer: Lessons from the collapse of a small South African bank

2018-11-06 06:01

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.

Salga hails allocation increases, urges more support

2018-11-01 21:11

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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