The South African Municipal Workers Union (SAMWU) says it is financially stable despite the negative media reports.
The Union says it is able to pay salaries to its workers even though it has a loan agreement with the controversial VBS bank that is currently under curatorship.
President of the union Pule Molalenyane says they do not have a bond with VBS bank but an R11 million photo copy machine loan agreement.
Molalenyane says they are servicing the loan through a monthly debit order.
“It’s very unfortunate that the governance structure in that bank collapsed because they were unable to pick out those illegal activities and we condemn in the strongest term if those things are correct.”
“We are indeed paying all staff members, you’ll find that our staff are receiving salaries and if they are due for bonuses they are also going to receive bonuses,” says Molalenyane.
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