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Mkhwebane: Probe into VBS Bank looting a priority

Public Protector Busisiwe Mkhwebane says her office is hard at work looking into the VBS scandal.

VBS Mutual Bank in Thohoyandou. Picture: Sethembiso Zulu/EWN

JOHANNESBURG - Public Protector Busisiwe Mkhwebane says that her office takes seriously its investigation into the looting of VBS Mutual Bank, saying it’s one of the investigations her office has prioritised.

Mkhwebane’s office initiated the investigation after the South African Reserve Bank (Sarb) released a report detailing how R1.8 billion was stolen from the bank, with politicians, the bank’s executives and a former KPMG official implicated.

Busisiwe Mkhwebane says her office is hard at work looking into the VBS scandal.

"We will also check the report to determine which other municipalities are implicated and we will also, in our investigation, engage with the Reserve Bank and National Treasury."

She says that her investigation will go beyond identifying what went wrong.

"We don't only investigate and determine if there is improper conduct. When the report is issued, it is to address the redress of whatever prejudice has been suffered."

Meanwhile, the Hawks and the National Prosecuting Authority (NPA) have also been holding a series of meetings as they investigate the looting at the bank.