13 October 2018

South Africa: ANC Referring Vbs Report to Its Integrity Commission

Photo: allafrica.com
Top: VBS Mutual Bank logo. Bottom-left: President Cyril Ramaphosa. Bottom-right: DA leader Mmusi Maimane.

The office of the ANC's secretary general has referred the report on alleged R1.8bn fraudulent activity at VBS Mutual Bank to its Integrity Commission, the majority party said in a statement on Saturday.

"These actions are in line with the restoration and enhancement of the values and integrity of the ANC, which our Strategy and Tactics (2017) calls for," a joint statement from Deputy Secretary General Jessie Duarte and spokesperson Pule Mabe said.

"It also reflects the determination of ANC officials, as discussed at their recent lekgotla, to lead the process of renewal and unity of the ANC."

In addition to referring Advocate Terry Motau's reported title "Great Bank Heist" findings it to the Integrity Commission chairperson George Mashamba, the commission is also expected meet next week to consider the report and the cases of leaders and members implicated or accused of wrong doing.

The officials of the ANC will also meet with the officials of Limpopo to discuss the response of the province to the serious allegations raised in the report.

The report, commissioned by the South African Reserve Bank, recommended that more than 50 individuals be criminally charged and held liable in civil proceedings, following the bank's implosion earlier this year.This includes the bank's former executives and their associates, shareholder executives, politicians and their relatives and auditors who signed off on the bank's "fraudulent" financials.

Motau was appointed to head an investigation into the bank's collapse.

The Hawks have indicated that they are already investigating the alleged fraudulent movement of money, but more organisations are coming out to express their dismay over the information coming to light.

The SA National Civic Organisation (Sanco) also rounded on the Economic Freedom Fighters following reports that EFF Deputy President Floyd Shivambu's brother Brian may be caught up in the scandal.

"The typical no apology-apology that the EFF will ultimately come up with for its failure to take the public into its confidence will only attest to the fact that it has lost high moral ground because as things stand, the emperor is completely naked," stated Sanco spokesperson, Jabu Mahlangu.

The Democratised Transport Logistics and Allied Workers Union said: "We are extremely concerned that if there are no arrests in all these glaring VBS shenanigans, South Africa is bordering on becoming another failed African State and a banana Republic."

The union was formed under the umbrella of the SA Federation of Trade Unions during a breakaway political crisis at the Congress of SA Trade Unions. It represents workers who previously would have aligned with Cosatu's SA Transport and Allied Workers Union.

Source: News24

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