The director of an organisation called Open Secrets which focuses on accountability says the VBS Mutual Bank scandal has undermined the public’s trust in public institutions.
Open Secrets’ Van Vuuren’s statement comes as Limpopo’s top five African National Congress (ANC) officials plan to meet in Polokwane on Monday to discuss the involvement of the party’s senior members in the looting of the bank.
Two senior officials – deputy chairperson and Vhembe district executive mayor Florence Radzilani and Treasurer Danny Msiza are implicated in the VBS scandal.
They are among about 50 people and companies that the Reserve Bank has linked to losses of about R 2 billion at VBS.
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