Mokonyane: VBS Bank scandal not discussed by Cabinet

A score of high profile individuals have been implicated in a report from a South African Reserve Bank commission probe for having benefited from fraud which eventually sunk the bank.

FILE: Communications Minister Nomvula Mokonyane. Picture: GCIS

CAPE TOWN - Communication's Minister Nomvula Mokonyane says the VBS Mutual Bank scandal was not discussed by Cabinet at its meeting this week.

A score of high profile individuals have been implicated in a report from a South African Reserve Bank commission probe for having benefited from fraud which eventually sunk the bank.

Mokonyane is giving a report back on Wednesday’s Cabinet meeting in Cape Town.

“We do hope that the relevant ministry and relevant cluster would reflect at an appropriate time and a statement would come from the side of government.”

The minister also says attacks on rail infrastructure are economic crimes.

Just this week, two trains were torched at Cape Town station, the latest in a string of arson attacks seen in the city in recent weeks.

Mokonyane says the matter is being prioritised.

“There is a team that now involves the South African Police Service, that involves the Department of Transport as well as Cooperative Governance and Traditional Affairs that have to look at these kinds of issues.”

She has also decried the impact these incidents have.

“The latest was just this very week and we do hope that as Minister Blade Nzimande has publicly announced, this is something that must be seen as one of the economic crimes because it does affect the economy as well as the production level of workers.”

(Edited by Mihlali Ntsabo)