In the affidavit, purportedly written by former VBS chairperson, Tshifhiwa Matodzi, Economic Freedom Fighters leader, Julius Malema and his deputy, Floyd Shivambu, are implicated in the looting of VBS through Sgameka Projects (PTY) LTD, a company registered under the name of Shivambu’s younger brother, Brian Shivambu.
JOHANNESBURG - South African lender Nedbank said on Monday it would appoint Ernst & Young as joint external auditors in May 2019, becoming the latest firm to drop the scandal-hit KPMG’s local unit.
PARLIAMENT - Economic Freedom Fighters (EFF) chief whip Floyd Shivambu on Tuesday accused members of Parliament (MPs) of "barking at the wrong tree", again denying that he or any of the party's leaders received money siphoned off from VBS Mutual Bank.
Analysts have suggested the then deputy president was wary of scuppering his chances of being elected president last year.President Cyril Ramaphosa failed the poor clients of VBS Mutual Bank by not speaking out against the looting at the bank because he was power hungry and scared to offend his boss, Jacob Zuma.
The Economic Freedom Fighters will not suspend its deputy president‚ Floyd Shivambu‚ pending an inquiry into allegations related to the looting of VBS Mutual Bank."We won't do it‚ you can forget about that‚" party leader Julius Malema said on Twitter‚ in response to a question.
The South African Reserve Bank’s report titled The Great Bank Heist, which looked at the alleged wide-scale looting of VBS Mutual Bank, alleges that former president Jacob Zuma’s foundation received R1 million from the bank.
