How Floyd Shivambu ‘used influence’ to get home loan from VBS
But EFF leader Julius Malema has said the claims against Floyd and Brian Shivambu are part of efforts to ‘discredit the EFF’
EFF deputy president Floyd Shivambu allegedly “used his influence” with the management at now-collapsed VBS Mutual Bank to secure a home loan to buy a house for his parents, it was reported on Monday. The Daily Maverick’s investigative unit‚ Scorpio‚ reported that despite not qualifying for a loan‚ the bank gave Brian Shivambu’s company‚ Sgameka Trading‚ a R1.46m home loan after his brother‚ Floyd Shivambu‚ allegedly had private discussions with VBS chair Tshifhiwa Matodzi. The discussions were attributed to “leaked e-mails”. The house in Johannesburg was registered to Sgameka as an asset‚ effectively funded by the country’s poor and vulnerable. Their parents allegedly moved into the house in October 2017 and stayed there for a year. Floyd Shivambu responded to the investigation‚ saying: “Fraudulent activities are dealt with by the criminal justice system and not some imaginations of a lousy journalist … I think your narrative is bullshit and pure drivel driven by narrow obsession.”...
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