Audit firm KPMG has suspended Sipho Malaba, a top executive who was in charge of the VBS Mutual Bank audit. VBS was placed under curatorship by the Reserve Bank, after it faced serious liquidity challenges.
The Joint Standing Committee on Finance wants the South African Reserve Bank and various statutory and regulatory bodies to explain what is being done to rescue the VBS Mutual Bank.
Government owned Post Bank and Ithala Development Finance Corporation were brought under the spotlight in the past week with VBS Mutual Bank being put under curatorship.
The South African Reserve Bank has placed a small bank – VBS Mutual Bank – under curatorship. The decision was based on concerns that the bank was facing a liquidity crisis and could collapse, devouring depositors’ funds.
Deputy President David Mabuza faces his maiden session answering oral questions in the National Assembly on Monday.
An EFF MP said the party preferred a developmental budget that promotes local economic development.
AVBOB funeral insurers was granted an interdict in the Durban High Court on Tuesday to stop the National Funeral Practitioners Association of South Africa from intimidating its employees or interfering with its business practices.
The funeral service of Afro Pop legend, Robbie Malinga, will get under way at the Rhema Bible Church in Randburg in the north of Johannesburg at 8am on Tuesday morning.
Former Vice President of Zimbabwe Emmerson Mnangagwa has left South Africa to return home to be sworn in as the country’s interim leader on Friday.