The African National Congress (ANC) has called for all those involved in the VBS Mutual bank saga, especially its management, to be prosecuted and sent to jail if found guilty.

The party brought an urgent motion on a matter of public interest for the National Assembly to debate the VBS debacle.

ANC Member of Parliament Tandie Tobias said they sympathise with the people who lost their money but added that they do not take kindly to claims that black people lack the capacity to run financial institutions.

Tobias says, “The alleged corruption by the management must be dealt with. We as the ANC cannot be perceived to be condoning corruption and if we allow the bank to collapse, we will continue to condemn the racial stereotypes that black and Africans in particular should not be allowed to participate in the financial sector.”

“We cannot be blinded by black loyalty without effectiveness and efficiency of black leadership,” added Tobias.

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