The African National Congress (ANC) has echoed President Cyril Ramaphosa’s statement that law enforcement agencies should accelerate their investigations into the looting of VBS Mutual Bank.
Last week, the Reserve Bank linked about 50 individuals and companies losses amounting to about R2 billion at the bank.
The individuals include the Vha-Venda King Toni Mphephu-Ramabulana and Brian Shivambu, the younger brother of the Economic Freedom Fighter’s deputy president Floyd Shivambu.
The Reserve Bank report says the two received R17 million and R16 million from the bank respectively.
ANC National spokesperson Pule Mabe says, “The ANC is calling for action. The ANC is on record as saying heads must roll.”