Johannesburg – The Democratic Alliance (DA) in Gauteng wants the provincial government to ensure that municipalities that invested money into the controversial VBS Mutual Bank pay back the funds.
The DA made this call during a debate on Cooperative Governance MEC Lebohang Maile’s budget speech on Thursday.
Maile tabled a R6.1-billion budget.
The Merafong and West Rand Municipalities collectively invested R126-million with VBS Mutual Bank in 2018.
During the budget speech debate, DA leader in the provincial Parliament, Mavuso Msimang, was fuming: “What is the department doing to recover the funds looted that it invested at VBS Mutual Bank?” asked Msimang.
The West Rand District Municipality was hit by a number of protests after its failure to pay workers’ salaries.
An investigation by the provincial government has since cleared implicated officials believed to have deposited money into the collapsed VBS Mutual Bank.
