20°C / 22°C
  • Fri
  • 33°C
  • 14°C
  • Sat
  • 32°C
  • 16°C
  • Sun
  • 33°C
  • 16°C
  • Mon
  • 33°C
  • 20°C
  • Tue
  • 32°C
  • 17°C
  • Wed
  • 26°C
  • 15°C
  • Fri
  • 24°C
  • 15°C
  • Sat
  • 22°C
  • 15°C
  • Sun
  • 22°C
  • 14°C
  • Mon
  • 19°C
  • 13°C
  • Tue
  • 19°C
  • 11°C
  • Wed
  • 18°C
  • 11°C
  • Fri
  • 34°C
  • 16°C
  • Sat
  • 34°C
  • 18°C
  • Sun
  • 35°C
  • 18°C
  • Mon
  • 36°C
  • 19°C
  • Tue
  • 35°C
  • 19°C
  • Wed
  • 27°C
  • 17°C
  • Fri
  • 34°C
  • 17°C
  • Sat
  • 34°C
  • 17°C
  • Sun
  • 35°C
  • 18°C
  • Mon
  • 35°C
  • 16°C
  • Tue
  • 35°C
  • 15°C
  • Wed
  • 31°C
  • 18°C
  • Fri
  • 25°C
  • 18°C
  • Sat
  • 26°C
  • 19°C
  • Sun
  • 26°C
  • 21°C
  • Mon
  • 22°C
  • 17°C
  • Tue
  • 19°C
  • 16°C
  • Wed
  • 25°C
  • 18°C
  • Fri
  • 21°C
  • 16°C
  • Sat
  • 21°C
  • 16°C
  • Sun
  • 21°C
  • 16°C
  • Mon
  • 18°C
  • 14°C
  • Tue
  • 18°C
  • 12°C
  • Wed
  • 17°C
  • 12°C
  • Fri
  • 28°C
  • 14°C
  • Sat
  • 26°C
  • 14°C
  • Sun
  • 25°C
  • 13°C
  • Mon
  • 19°C
  • 9°C
  • Tue
  • 21°C
  • 8°C
  • Wed
  • 18°C
  • 9°C
  • Fri
  • 24°C
  • 15°C
  • Sat
  • 22°C
  • 15°C
  • Sun
  • 20°C
  • 14°C
  • Mon
  • 16°C
  • 11°C
  • Tue
  • 18°C
  • 10°C
  • Wed
  • 16°C
  • 11°C
  • Fri
  • 36°C
  • 18°C
  • Sat
  • 36°C
  • 19°C
  • Sun
  • 36°C
  • 18°C
  • Mon
  • 38°C
  • 20°C
  • Tue
  • 37°C
  • 21°C
  • Wed
  • 32°C
  • 19°C
  • Fri
  • 34°C
  • 17°C
  • Sat
  • 33°C
  • 17°C
  • Sun
  • 34°C
  • 16°C
  • Mon
  • 32°C
  • 16°C
  • Tue
  • 30°C
  • 13°C
  • Wed
  • 27°C
  • 12°C
  • Fri
  • 32°C
  • 11°C
  • Sat
  • 33°C
  • 13°C
  • Sun
  • 35°C
  • 14°C
  • Mon
  • 37°C
  • 16°C
  • Tue
  • 25°C
  • 17°C
  • Wed
  • 32°C
  • 16°C
  • Fri
  • 22°C
  • 15°C
  • Sat
  • 21°C
  • 14°C
  • Sun
  • 21°C
  • 14°C
  • Mon
  • 16°C
  • 11°C
  • Tue
  • 17°C
  • 11°C
  • Wed
  • 16°C
  • 10°C

VBS collapse will affect municipal service delivery for years to come, says AG

Kimi Makwetu said some municipalities in Limpopo and Gauteng invested funds that were earmarked for long-term projects with the bank.

FILE: Auditor-General Kimi Makwetu. Picture: Christa Eybers/EWN.

JOHANNESBURG – Auditor-General Kimi Makwetu said on Wednesday the collapse of VBS Mutual Bank was one of the reasons why service delivery would be affected for years to come.

Makwetu said some municipalities in Limpopo and Gauteng invested funds that were earmarked for long-term projects with the bank.

Delivering his 2017/2018 local government audit results on Wednesday, Makwetu said eight municipalities in Limpopo and two in Gauteng sent their money to VBS.

“In Gauteng as well. There were two municipalities that put money into VBS. This would have an impact on longer term projects.”

A Reserve Bank report, titled The Great Bank Heist, revealed that almost R2 billion was stolen over three years by 53 individuals, including executives and politicians.

Comments

EWN welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

- Racism (including offensive comments based on ethnicity and nationality)
- Sexism
- Homophobia
- Religious intolerance
- Cyber bullying
- Hate speech
- Derogatory language
- Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the EWN community a safe and welcoming space for all.

EWN reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

EWN is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

comments powered by Disqus