Limpopo PEC wants officials linked to VBS Bank saga suspended

EWN has reliably learnt that this was the main decision taken at the special PEC meeting on Tuesday night in the wake of the Reserve Bank report detailing widespread looting at the bank.


JOHANNESBURG - The Limpopo provincial executive committee (PEC) wants municipal managers and chief financial officers of municipalities implicated in the VBS Mutual Bank scandal to be suspended.

Eyewitness News has reliably learnt that this was the main decision taken at the special PEC meeting on Tuesday night in the wake of the Reserve Bank report detailing widespread looting at the bank.

At least eight Limpopo municipalities illegally invested more than R1 billion into VBS, money they will now never get back.

EWN has learnt from sources that attended the meeting that accounting officials including municipal managers and CFO’s from municipalities implicated must be suspended immediately.

However, the highest decision-making body in the province is passing the buck on politicians, referring them to lower structures to answer on their role.

The PEC decided that urgent regional executive committee meetings should be convened and mayors, chief whips and speakers be called to account for their involvement.

The report implicated African National Congress Limpopo deputy chairperson Florence Radzilani who is also an executive mayor of the Vhembe District Municipality and the party’s provincial treasurer Danny Msiza.

EWN understands that while there was a push by some PEC members for Msiza and Radzilani to step down, the PEC resolved that the party’s integrity commission, which will meet the two leaders next week, should decide their fate.

The ANC in Limpopo has confirmed it's given its municipal deployeers a month to find who is responsible for depositing money into the scandal-plagued VBS bank.

The party would also like to know who authorised those transactions.

ANC Limpopo PEC spokesman Donald Selamolela says accountability is needed in the wake of the VBS scandal and those who broke the law cannot be protected.

“At this stage, we’re unable to say it is so and so. Hence, we’re saying let me go before the end of this month, make a determination and tell us what are the consequent management process they’re putting in place so were able to act out of that.”

Selamolela says the province expects feedback as to who was responsible and what action has been taken.

At the same time, two Giyani Municipal officials including the CFO, have been suspended for their role in the VBS saga.

It remains to be seen if mayors of the eight implicated municipalities will also be sanctioned.

Below are names of people named in the report:

Vele and its associates R936 669 111 – majority shareholder in VBS

Tshifhiwa Matodzi R325 896 831 – chairman of VBS and Vele

Free State Development Corporation R104 130 932

Kabelo Matsepe R35 400 105 – former Limpopo ANCYL leader/director: Moshate Investment Group

Sipho Malaba R33 978 379 – former KPMG partner

Phophi Mukhodobwane R30 572 296 – VBS general head of treasury and capital management

Paul Makhavu R30 461 788 – attorney, Venda king’s advisor

Robert Madzonga R30 372 282 – Vele investments chief executive

Andile Ramavhunga R28 925 934 – VBS chief executive

Solly Maposa R24 441 877 – VBS retail managing director

Ralliom Razwinane R24 224 198 – director, Gundo Wealth Solutions/ANC connected

Firmanox R17 748 384

The Venda king, Toni Mphephu R17 729 758 – Venda King

Ndivhuwo Khangale R16 830 091 – VBS / Vele spokesperson

Sechaba Serote R16 653 458 - businessman

Ernest Nesane R16 646 086 – former PIC head of legal

Brian Shivambu R16 148 569 – allegedly EFF Floyd Shivambu’s brother

Paul Magula R14 818 098 – former PIC head of risk and compliance

Charl Cilliers R12 683 947 – CA, Insure Group chief executive

Tiisang Private Capital R12 489 230

Maanda Manyatshe R11 279 242 – Vele Investments chairman, former MTN boss

Sasa Nemabubuni R9 169 288 – VBS sales general manager

Sabicorp R8 453 585

Avashoni Ramikosi R5 972 288 – VBS non-executive director / former SAPS CFO

Takalani Mmbi R4 404 178 – Brilliantel finance and admin manager

Phillip Tshililo R2 039 990 – Matodzi personal assistant.

(Edited by Winnie Theletsane)