SINESIPHO SCHRIEBER
Africa-Press – South-Africa. EFF deputy president Floyd Shivambu is facing a reduction of nine days’ salary as a sanction for failing to disclose to parliament the R180,000 he received via brother Brian Shivambu, who benefited from the defunct Venda Building Society (VBS Mutual Bank) mutual bank.
The joint committee on ethics and members’ interests on Monday found Shivambu breached the code of ethical conduct and disclosure of members’ interests after the money was paid to him in 2017 by Sgameka Projects, a company owned by his brother.
The EFF has defended Shivambu amid criticism.
The party said the money received was a loan and not a donation.
Shivambu plans to go to court to overturn the finding, the EFF said.
DA MP Siviwe Gwarube said though it took the committee four years to complete its work, the party welcomed the report.
“While this comes as cold comfort to those who lost their life’s savings in the VBS Mutual Bank heist, it is a step in the right direction by parliament. We are members of parliament; accountable to the public. That is why it is important that we disclose and declare all financial and non-financial interests. This is for accountability and transparency,” Gwarube said.
A forensic investigation report into VBS Mutual Bank in 2018 found VBS’s business was conducted with the intent to defraud people who banked with them. Many people lost their money when the bank was closed. The report found VBS’s business conduct involved reckless business practices.
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