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President Ramaphosa calls for swift action over VBS Bank 'looting'

Cyril Ramaphosa says action must also be taken against municipal officials and politicians who deposited public funds with VBS while knowing this was against the law.

President Cyril Ramaphosa replying to questions orally in the National Assembly in Parliament on 6 November 2018. Picture: GCIS

CAPE TOWN - President Cyril Ramaphosa has urged law enforcement agencies to move with greater speed in bringing those responsible for the corruption at VBS Mutual Bank to book and to recover looted money.

Ramaphosa says action must also be taken against municipal officials and politicians who deposited public funds with VBS while knowing this was against the law.

Answering questions in the National Assembly on Tuesday afternoon, Ramaphosa told MPs the forensic report on VBS revealed a “deeply disturbing picture of corruption on a massive scale”.

“We call on all the relevant institutions, and in fact, we insist that they must act swiftly to prosecute those responsible. But also, to move with greater speed to recover the funds stolen from the bank’s depositors.”

Ramaphosa says it’s disturbing that poor rural residents were the main victims.

“Action must also be taken against those municipal officials. And in some cases, they include political officials.”

RAMAPHOSA ON FARM KILLINGS

Ramaphosa says not just white farmers are being killed but farmers of all races.

The president was responding to a question from Freedom Front Plus leader Pieter Groenewald who asked why Ramaphosa had denied that white farmers were under attack.

Ramaphosa says he was responding to a tweet by US President Donald Trump on farm killings.

“And I said no, that is not true. I was specifically referring to that. The fact that, yes white farmers are being killed including black people on farms as well is the reality we are living with.”

Additional reporting by Robinson Nqola.

(Edited by Thapelo Lekabe)

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