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Mkhize: I was not aware of fraudulent operations at VBS

Minister Zweli Mkhize's statement comes after reports that the ANC profited to the tune of R2 million through a 'donation' from the bank towards its election campaign.

FILE: Co-operative Governance Minister  Zweli Mkhize. Picture: @NationalCoGTA/Twitter.

JOHANNESBURG - Minister of Cooperative Governance and Traditional Affairs Zweli Mkhize says when he met with the executives of VBS Mutual Bank and accepted their donation he did not know about the fraudulent operations of the bank.

Mkhize's statement comes after the Sunday Times reported that the African National Congress (ANC) profited to the tune of R2 million through a "donation" from the bank towards its election campaign.

It is reported that Mkhize, who was the ANC's treasurer-general at the time, was in contact with the bank's Tshifhiwa Matodzi over the R2 million the party needed in 2016 in exchange for raising money from municipalities and state institutions.

WATCH: DA lays criminal complaint against Zweli Mkhize

On Thursday, the Democratic Alliance laid criminal charges against him.

Mkhize has denied assisting the VBS bank in securing illegal funding from municipalities when he was still the treasurer-general of the ANC.

He also says he has no direct knowledge or personal recollection of the R2 million donation by VBS during his tenure at Luthuli House.

While he has admitted to meeting with the VBS management and directors, he says this was a formally-arranged meeting to introduce the bank to the organisation and make one understand its business model.

He says he only became aware of the bank's relationship with municipalities and suspected fraud when the matter was in the news earlier this year.

(Edited by Mihlali Ntsabo)

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