In the biggest political action taken so far after VBS Mutual Bank was driven into the ground by a R2bn fraud that implicated some members of the governing party, the ANC in Limpopo has asked seven mayors in the province to resign. The most notable was Vhembe District Municipality mayor Florence Radzilani, who resigned on Tuesday. Radzilani is also the party’s deputy chair in the province. Party treasurer Danny Msiza was also implicated in the VBS saga. The other six mayors are expected to resign. The alleged role of political players in the collapse of VBS, which was set up in 1982 in the former Venda homeland, was laid bare in a forensic report compiled by advocate Terry Motau and Werksmans Attorneys in October. The report also found that a company owned by the brother of EFF deputy leader Floyd Shivambu received R16m in payments associated with the bank. Shivambu has denied all wrongdoing. A huge part of the fraud included municipalities in some of the poorest areas of the countr...
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