Streaming issues? Report here
Just the Hits generic CapeTalk Just the Hits generic CapeTalk
Just the Hits
15:00 - 20:00
volume_up
volume_mute

Up Next: Just the Hits... with Soul
See full line-up
Just the Hits
15:00 - 20:00
Home
arrow_forward
Politics
fiber_manual_record
Business

'VBS stolen money bought the most useless things like Ferraris and helicopters'

12 October 2018 10:26 AM
Tags:
EFF Commissar Floyd Shivambu
VBS Mutual Bank
corruption at VBS Mutual Bank
VBS Bank report

Deputy editor at Finacial Mail Sikonathi Mantshantsha says it is mind-boggling why no one has been arrested in the VBS saga.

Deputy editor at Financial Mail Sikonathi Mantshantsha says it is mind-boggling why no one has been arrested for the R2 billion that was stolen at VBS Mutual Bank.

He says it is not surprising because nobody was arrested in a much bigger heist at Steinhoff where R200 billion vanished.

Read: R10 million siphoned from VBS to Floyd Shivambu's personal account

Some people are sitting in Dubai for an even much bigger heist of the State and nothing whatsoever was done about it.

Sikonathi Mantshantsha, deputy editor at Financial Mail

The EFF's Floyd Shivambu is implicated in the VBS matter for receiving R10 million from his brother Brian Shivambu and R1 million which was transferred to the EFF's account.

Dali Mpofu was asked about the whereabouts of Floyd Shavambu and his brother who received R16 million from the R2 billion that was stolen.

Sikonathi Mantshantsha, deputy editor at Financial Mail

And we now know according to allegations that R10 million of that went to Floyd and another R1 million went to the EFF itself.

Sikonathi Mantshantsha, deputy editor at Financial Mail

And when Dali Mpofu was asked he said 'Am I my brother's keeper?'

Sikonathi Mantshantsha, deputy editor at Financial Mail

The money was taken from you and I through municipalities and went straight into people's pockets who bought the most useless of things like Ferrari's and helicopters. That is what poor people paid for.

Sikonathi Mantshantsha, deputy editor at Financial Mail

To hear the rest of the conversation with Sikonathi Mantshantsha, listen below:


12 October 2018 10:26 AM
Tags:
EFF Commissar Floyd Shivambu
VBS Mutual Bank
corruption at VBS Mutual Bank
VBS Bank report

Recommended

More from Politics

cleaner-domestic-worker-house-keeper-yellow-glovesjpg

'Domestic workers struggling to access government's special Covid-19 relief'

3 July 2020 12:11 PM

Sadsawu's Myrtle Witbooi explains many domestic workers aren't UIF registered and the direct contact number is hard to access.

Share this:
Read More arrow_forward

shack-reerected-in-emplwenipng

Leaked City WhatsApp chat shows ordering destruction of shack again

3 July 2020 10:06 AM

A video of City of Cape Town officials dragging naked Bulelani Qholani from his shack in the Mpolweni site went viral.

Share this:
Read More arrow_forward

masks-picjpg

Fraudsters have allegedly dipped into govt Covid-19 relief billions

2 July 2020 2:02 PM

SIU's Kaizer Kganyago says cases involve price gouging and procurement process irregularities in the health sector.

Share this:
Read More arrow_forward

unemployment men on side of road Zwelihle, Hermanus, Western Cape 123rf

Covid-19 Ters relief ends in June. What happens to those still not back at work?

2 July 2020 7:59 AM

UIF Commissioner Teboho Maruping says they are in discussions to find a way to help those still not back at work.

Share this:
Read More arrow_forward

Gay couple same-sex marriage 123rf

Marriage officers no longer allowed to say 'I won't' when gay couples say 'I do'

1 July 2020 2:36 PM

Director of Inclusive & Affirming Ministries (IAM) Rev Ecclesia de Lange says it is a victory for same-sex couples.

Share this:
Read More arrow_forward

privacygif

POPI Act takes effect from today - 1 July 2020

1 July 2020 1:46 PM

Deputy Minister Justice And Constitutional Development John Jeffreys says there is a grace period to get your ducks in a row

Share this:
Read More arrow_forward

200428zweligif

Zweli Mkhize: 'We could not sustain the lockdown as it was'

1 July 2020 11:51 AM

It was reported the health minister warned another hard lockdown might be necessary but it appears to be more nuanced than that.

Share this:
Read More arrow_forward

Bribery, corruption, fraud. Pic 123rf

SIU boss vows to clean up 'grand-scale corruption' in State Attorney's Office

1 July 2020 9:30 AM

SIU head Advocate Andy Mothibi says corruption includes including legal practitioners, medical practitioners, and other officials.

Share this:
Read More arrow_forward

national_lottery.jpg

DTI probe into claims of National Lottery corruption 'will be bigger than VBS'

30 June 2020 1:42 PM

The investigation was brought about largely by GroundUp journalist Raymond Joseph bringing the claims of corruption to light.

Share this:
Read More arrow_forward

Deflating piggy bank with flag of South Africa. National financial crisis 123rf

South Africa's first quarter GDP drops 2%

30 June 2020 12:57 PM

Statistician-General at Statistics SA Risenga Maluleke discusses the impact of global Covid-19 travel restrictions on South Africa.

Share this:
Read More arrow_forward

More from Business

onionjpg

Small Business Focus: Onion peeler lessons for SMEs

2 July 2020 9:42 PM

Pavlo Phitidis tells more about a strategy that he has been using for years and how to apply this in a business.

Share this:
Read More arrow_forward

edit - equity-market - image from JSE-dot-co-dot-za.jpg

Personal Finance Feature - Equity fund vs index investing

2 July 2020 8:43 PM

Personal financial adviser Warren Ingram says active fund managers in South Africa have had a terrible time.

Share this:
Read More arrow_forward

rotisserie-whole-chicken-poultry-hot-cooked-food-meal-supermarket-meat-123rf

Meat importers say FairPlay’s dumping concerns is just a COVID-19 blame game

2 July 2020 8:05 PM

Association of Meat Importers and Exporters CEO Paul Matthew says there are mechanisms to deal with a possibility of dumping

Share this:
Read More arrow_forward

191115 SAA strike Airways Park1

Four unions sign up for voluntary SAA severance packages

2 July 2020 7:14 PM

DPE acting director-general Kgathatso Tlhakudi says there is hope ahead of talks with Numsa, Sacca and pilots association.

Share this:
Read More arrow_forward

tesla-model-xjpg

Tesla is now the world’s most valuable carmaker

2 July 2020 3:34 PM

Elon Musk’s revolutionary electric car manufacturer has just overtaken Toyota as the world’s most valuable automaker.

Share this:
Read More arrow_forward

Crazy funny man working from home on desktop computer 123rf 123rfbusiness

Job hunting? This CEO is hiring and interviewing remotely – he has advice

2 July 2020 2:15 PM

"We’ve hired people we haven’t met in person," says Karl Hammerschmidt. "There are things you can still do to impress."

Share this:
Read More arrow_forward

masks-picjpg

Fraudsters have allegedly dipped into govt Covid-19 relief billions

2 July 2020 2:02 PM

SIU's Kaizer Kganyago says cases involve price gouging and procurement process irregularities in the health sector.

Share this:
Read More arrow_forward

tourism-travel-accommodation-hospitality-hotel-reception-bell-concierge-123rf

The official word is that leisure travel is not allowed - Fedhasa

2 July 2020 12:38 PM

The tourism ministry has confirmed that leisure travel is not allowed under level 3 lockdown despite earlier claims to the contrary.

Share this:
Read More arrow_forward

Woman working from home mother children 123rflifestyle 123rfbusiness 123rf

How to deal with grievances with your boss while working from home

2 July 2020 11:51 AM

A labour lawyer says she has dealt with companies coming to terms with paying for employees home internet data for work purposes.

Share this:
Read More arrow_forward

Maize mealie grain farmer harvest agriculture 123rfbusiness 123rf

South Africa’s farms are producing near-record amounts of food right now

2 July 2020 11:29 AM

So, far it’s been a good season for South Africa, says Tonie Fuchs (Managing Director at Capespan Group Limited).

Share this:
Read More arrow_forward