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Floyd Shivambu not going anywhere, says EFF’s Julius Malema

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Malema tweeted on Thursday, 11 October 2018 that he would be meeting with Shivambu over the VBS matter.

Leader of the Economic Freedom Fighters (EFF) Julius Malema has ruled out any possibility of his deputy Floyd Shivambu being suspended from the party over the VBS scandal.

When asked on social media if the EFF had suspended Shivambu, pending an investigation, Malema replied, “We won’t do it, you can forget about that”

Brian Shivambu, Floyd’s brother, received R16 million from the now collapsed bank.

The EFF have, however, called for all implicated individuals to face the full might of the law

This was revealed in a report by the South African Reserve Bank, released on Wednesday, 10 October 2018.

VBS came under the spotlight earlier this year, after it was revealed that its own management allegedly looted R1.5 billion.

The bank was placed under curatorship in March this year.

Brian Shivambu announced on Thursday, 11 October 2018, that he would be taking legal action against the contributors of the report for defamation.

“I intend to legally pursue the owners of the VBS Report for defamation of my character and that of my company as well as for the strain this report has caused to my family”, Shivambu said in a statement.

“I am aware that my brother’s name has been raised in relation to this matter. I am a private businessman and I do not intend to involve myself or my family in political debates.”

Shivambu is included in a list of 27 people and companies who received the largest amounts of money from the bank in the scheme.

The bank has opted not to disclose further details surrounding the forensic report, due to the ongoing investigation.

Meanwhile, the South African Institute of Charted Accountants (SAICA) intends on taking disciplinary action against implicated members, including former CEO Andile Ramavhunga and former holding company Vele Investments chairperson Tshifhiwa Matodzi.

Thabo Baloyi
[email protected]

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