https://www.polity.org.za
Deepening Democracy through Access to Information
Home / News / All News RSS ← Back
Close

Email this article

separate emails by commas, maximum limit of 4 addresses

Sponsored by

Close

Article Enquiry

We have confidence in our deputy president – Malema

Close

Embed Video

We have confidence in our deputy president – Malema

EFF deputy president Floyd Shivambu & EFF president Julius Malema
EFF deputy president Floyd Shivambu & EFF president Julius Malema

16th October 2018

By: African News Agency

SAVE THIS ARTICLE      EMAIL THIS ARTICLE

Font size: -+

The Economic Freedom Fighters (EFF) has thrown its weight behind its deputy president Floyd Shivambu, whose brother, Brian, allegedly received R16-million from the collapsed VBS Mutual Bank.

''The deputy president has taken the EFF leadership into his confidence and we have no reason to not believe him. We note that several persons mentioned in the [VBS] report are challenging it, any pronouncement on validity of the report is premature,'' party leader Julius Malema told reporters in Johannesburg.

Advertisement

Neither Shivambu nor the EFF were mentioned in the report, he added.

Media reports alleged that R10-million of the R16-million VBS cash was directed to Brian's brother Floyd, while the EFF benefited to the tune of R1.3-million.  The brothers have separately denied receiving cash emanating from the bank.

Advertisement

When asked why the EFF was taking its deputy president's word and not investigating him, Malema said there was no basis to investigate.

''Investigation based on what?...give us something [to work with]. In the absence of prima facie evidence, there cannot be such. And I am not afraid of Floyd...if Floyd stole money from the poor, I will face him.''

Malema said Brian Shivambu is an EFF member and one of his duties for the party was to sell EFF merchandise.  

An independent report commissioned by the SA Reserve Bank to probe the collapse of the mutual bank found that there was "wide scale looting and pillaging of the monies placed on deposit at VBS". The monies were clients' life savings and deposits, including millions of rands deposited by municipalities. 

The report, titled "The Great Bank Heist" showed that at least 50 people "gratuitously" received nearly R2-billion from the bank over a three-year period starting in March 2015.

EMAIL THIS ARTICLE      SAVE THIS ARTICLE

To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here

Comment Guidelines

About

Polity.org.za is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Mining Weekly
Research Channel Africa

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Polity.org.za is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now