VBS Bank reports are very mischievous and misleading - ANC Limpopo

The City Press on Sunday reported that the African National Congress (ANC)’s top six officials launched a last-ditch political attempt to rescue VBS Mutual Bank from liquidation – a move that is set to pit the party against the South African Reserve Bank.

The paper reported that a meeting was held on Monday between the ANC’s top six officials and the party’s Limpopo leadership to discuss possible ways to save the troubled bank.

READ: 'VBS was run like a pyramid scheme'

This comes after the South African Reserve Bank placed the bank under curatorship following a liquidity crisis and accusations of widespread corruption.

ANC Limpopo Spokesperson Donald Selamolela says the reports are very mischievous, misleading and borders on peddling.

Because the allegations that are that we put to take mobility to save the bank and so forth are far from the truth. The African National Congress in Limpopo has not done that.

Donald Selamolela, ANC Limpopo Spokesperson

But what we have done as the ANC is that during our special general council, the general membership of the ANC of Limpopo strongly felt that no matter the challenges that are currently at hand, VBS as a bank needs to be saved.

Donald Selamolela, ANC Limpopo Spokesperson

Listen below to the full interview...


This article first appeared on 702 : VBS Bank reports are very mischievous and misleading - ANC Limpopo


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