Deepening Democracy through Access to Information
Home / News / All News RSS ← Back

Email this article

separate emails by commas, maximum limit of 4 addresses

Sponsored by


Article Enquiry

Floyd Shivambu’s salary docked for failing to disclose R180 000 he received from VBS looter


Embed Video

Floyd Shivambu’s salary docked for failing to disclose R180 000 he received from VBS looter

EFF Deputy Leader Floyd Shivambu
EFF Deputy Leader Floyd Shivambu

29th November 2023

By: News24Wire


Font size: -+

The Economic Freedom Fighters's (EFF's) second in-command, Floyd Shivambu, will be docked nine days' salary.

This after he failed to disclose an amount of R180 000 paid to him by Sgameka Projects, a company implicated in the looting of VBS Mutual Bank.


On Tuesday, the National Assembly adopted the Joint Committee on Ethics and Members' Interests' report, giving effect to the sanction against Shivambu.

Shivambu's legal representatives asked National Assembly Speaker Nosiviwe Mapisa-Nqakula not to allow the House to consider the matter as it was a matter of a legal subject.


Mapisa-Nqakula made it clear the court process did not prevent the National Assembly from proceeding on the matter.

She said she would inform the House when the sanction against Shivambu would be implemented.

The first complaint was referred to the committee on 16 October 2018 by a former Democratic Alliance (DA) MP.

The committee that was constituted under the sixth Parliament resolved in November 2019 to continue with the complaint.

On 18 October 2019, DA leader John Steenhuisen MP also referred a complaint to the committee.

Because the complaint focused on the same issue, the committee processed the two complaints together.

The complaint was based on media reports in the Daily Maverick and alleged that:

  • Shivambu received about R10-million through his younger brother, Brian Shivambu, and the EFF allegedly received R1.3-million through VBS.
  • Money was funnelled through a company called Sgameka Projects, legally owned by Brian into Shivambu's bank account.
  • Lawrence Mulaudzi made payments into the account of a company called Grand Azania (Pty) Ltd (legally owned by Brian) ("Grand Azania"). These funds were then used to pay expenses related to Shivambu's wedding.
  • Shivambu benefitted from payments made by Sgameka into Grand Azania's bank account.
  • He failed to disclose Sgameka, Grand Azania, Brian or Mulaudzi in his 2017 and 2018 disclosure of members' interests.
  • Shivambu used the savings of vulnerable VBS depositors and municipalities funnelled through Sgameka and Grand Azania to fund his extravagant lifestyle and political aspirations.

In October 2018, the SA Reserve Bank received a forensic investigation report from advocate Terry Motau and legal firm Werksmans Attorneys in relation to VBS.

The Joint Committee on Ethics Members' Interests had summoned the VBS liquidator to Parliament, where he provided an affidavit to the committee.

The affidavit said Shivambu had received three payments from Sgameka Projects.

The payments were R100 000, R30 000 and R50 000.

Shivambu did not respond to a request for comment.

Parliament's acting Registrar of Members' Interests, advocate Anthea Gordon, contacted Shivambu to source a response regarding the complaints from Steenhuisen.

In that response, Shivambu said he believed there was no definitive basis to respond to allegations that were subject to judicial review.

"I, however, wish to state categorically that I have had no conflict of interest on any matter that related to VBS as alleged and have not received any payments from VBS.

"I have recently finalised my tax returns and SARS is satisfied with all the submissions on all the issues that relate to revenue collection.

"I therefore write to request that the Ethics Committee wait for the outcome of the judicial review and then restart the whole process of investigations if the committee will still believe that there are issues that still need to be clarified after the judicial review," he added.

Shivambu said if the committee had decided to proceed on a matter that was under judicial review, he would consult his legal representatives to determine the "next action".


To subscribe email or click here
To advertise email or click here

Comment Guidelines

About is a product of Creamer Media.

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

Read more


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


Advertising on is an effective way to build and consolidate a company's profile among clients and prospective clients. Email

View options
Free daily email newsletter Register Now