President Cyril Ramaphosa has categorically rejected reports that he failed to take action on the VBS Bank saga despite being alerted to irregularities in 2017.
SACP General Secretary, Dr Blade Nzimande, says people looted VBS bank because they know nothing will happen to them.
The author of VBS bank corruption report Advocate Terry Mutau says he hopes there will be swift action by the NPA to bring those implicated in the bank’s downfall to book.
South Africa should seek damages from global auditor KPMG for the role it played in a corruption scandal that saw at least 1.9 billion rand ($130 million) stolen from local bank VBS, a central bank investigation published on Wednesday said.
Limpopo municipalities that invested with the troubled Venda Building Society Mutual Bank or VBS are battling to provide services to communities.