Floyd Shivambu claims no conflict of interest on VBS
DA has laid a complaint with parliament’s ethics committee, alleging that the EFF deputy president should have disclosed family interests in the bank
EFF deputy president Floyd Shivambu has denied he was in any way conflicted when he attended parliamentary hearings on the VBS Mutual Bank, because he did not know his brother Brain had received money from the bank’s majority shareholder. But the DA is not buying that explanation, with the party’s John Steenhuisen telling Business Day that he did not believe that Shivambu did not know his brother had received R16m from VBS’s majority shareholder, Vele Investments. Shivambu, an EFF MP, has been outspoken in vocalising the party’s opposition to the Reserve Bank’s decision earlier in 2018 to place VBS, which faced near collapse after almost R2bn was allegedly looted by its directors and executives, under curatorship. But he insists this was a matter of principle, not a stance driven by a desire to protect anyone linked to the bank’s alleged looting. The DA has laid a complaint against Shivambu with parliament’s ethics committee, alleging that he violated parliament’s code of conduct by...
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