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

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:


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