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South Africa’s Finance Minister, Tito Mboweni says the continent cannot only rely on China for development. He was speaking in Lesotho’s capital, Maseru, where he addressed the Association of Accountants.
Mboweni also commented on South Africa’s state capture and the VBS bank saga.
“This was a bank that was started during the Bantustan system by the Venda Bantustan and the model was correct.”
“This was a mutual bank that provided loans even housing loans to people living in traditional areas. And then the executives began using the bank for their personal property and looted it about R2 billion.”
“They stole R2 billion and they must go to jail.”
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