ANC NEC calls on financial authorities to investigate VBS

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The African National Congress (ANC) says the Reserve Bank will get support in its investigation into the collapse of the Limpopo-based VBS Mutual Bank.

Deputy Secretary General, Jessie Duarte says: “The overall approach on the VBS issue should be guided by the common national commitment to a financial sector that is robust, diversified and continues to transform to meet the needs of all South Africans.”

The ANC’s National Working Committee called on authorities within the financial sector to speedily investigate developments at the mutual bank.

Duarte says the bank has an important role to play in society as many people rely on it for financial services. She says they will monitor developments at VBS.

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