DA leader Mmusi Maimane has alleged that the money invested in the troubled VBS mutual bank by various Limpopo municipalities was used to sponsor certain political parties.
He was speaking in Mokopane, Limpopo, where he unveiled the party’s premier candidate.
VBS came under the spotlight last year when it granted former president Jacob Zuma a R7.8 million loan to pay off his Nkandla debt.
The Mutual bank has since been placed under curatorship due to financial irregularities.
Maimane says the political parties must ‘pay back the money’.
He says: “Money was invested and has sponsored political parties. I believe banking licences must be brought there, the must be more banks but the fact of the matter is you cannot use banks to channel money to political parties.”
“What we want is a strong financial sector. I want a strong VBS but corruption must be investigated and we have called for it. We opened charges against people who looted it and the Reserve Bank governor is with us when we’re calling for a thorough investigation so that those people who benefited from VBS, those political parties must account or pay back the money for the people of this country,” says Maimane.