The Commission of Inquiry into allegations of impropriety at the PIC has heard that VBS CEO Andile Ramavhunga was instrumental in determining the terms of a R350 million revolving credit facility issued by the PIC.
The African National Congress (ANC) supporters and members who stopped the South African Communist Party (SACP) protest march against VBS looters in Polokwane, Limpopo, say they were protecting the offices from vandals.
The positions of North West mayors, whose municipalities invested illegally with the controversial VBS Mutual Bank, are still safe.
President Cyril Ramaphosa says the forensic investigation into the VBS looting is at an advanced stage.
North West Premier Job Mokgoro says four dismissed mayors of municipalities that invested with VBS Bank will face criminal charges.
The African National Congress has started the process of replacing the seven mayors dismissed on Tuesday after the VBS scandal.
Workers at the Greater Giyani municipality in Limpopo have expressed fears that they might face salary cuts due to the municipality’s investment into the now liquidated VBS Mutual Bank.
Limpopo premier Stan Mathabatha says criminal cases will be opened against municipal officials implicated in transferring millions of rands in public funds to the now liquidated VBS mutual bank.
Limpopo mayors who deposited more than R500 million meant for service delivery in the now liquidated VBS mutual bank will know their fate on Tuesday.
ANC members in Limpopo implicated in the VBS saga have not been included the party lists for the provincial and national elections. The ANC in Limpopo held its lists conference in Polokwane on Saturday.