The African National Congress Provincial Executive Committee (ANC PEC) in Limpopo has ordered all the municipalities which have lost public funds in VBS investments to recover the funds from the implicated officials.
The decision was taken during a PEC sitting in Polokwane.
Seven Limpopo municipalities have lost almost R2 billion of public funds, invested in the defunct VBS Mutual Bank.
The party also wants the implicated officials to appear before its integrity commission.
Spokesperson, Jimmy Machaka, says it is worrying that some municipal officials implicated in the VBS saga were given golden handshakes instead of being disciplined.
“The ANC extensively discussed this matter and appreciated the work done by then provincial executive committee and the provincial government. We have however expressed our gratitude to all municipalities that have implemented disciplinary measures against various CFOs and municipal managers however, we are worried that to some extent some of the people who participated or caused the loss of millions from these municipalities were given hand.”
Legal action
Meanwhile, some residents of Vhembe in Limpopo have since commended the VBS Mutual Bank liquidator for taking legal action in a bid to recover money looted in the now-defunct bank.
In December last year, the liquidator was granted an order by the Johannesburg High Court to recover more than R5 million plus interest from former VhaVenda King, Toni Mphephu Ramabulana.
More details in the report below:
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