Parliament’s Portfolio Committee on Cooperative Governance is on the ground probing the state of Limpopo municipalities that invested in VBS Bank. The province had the highest number of municipalities that invested in the bank, which was looted of almost R2 billion.
Eleven Limpopo municipalities lost R1.2 billion that they’d deposited with VBS. Last year THE GREAT BANK HEIST report – compiled by advocate Terry Motau and law firm Werksmans – found that VBS had been cleaned out by its directors, as well as politicians.
Bheki Hadebe from Parliament’s COGTA Committee joins us for more on that fact-finding mission in Limpopo.
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