Prosecute anyone linked to VBS scandal – EFF’s Mbuyiseni Ndlozi

“Shutting down the bank will not help efforts to increase black participation in the financial sector. A recovery plan that can save the bank or support of other black owned prospective black license applicants to service the people in the rural area with PTOs must be devised.” Ndlozi also questioned why “such looting has been allowed to happen since 2015”.

“Only upon the bank giving Jacob Zuma a loan did concerns arise and decisions to closely look into its affairs happen. “We call on the SARB [SA Reserve Bank] to review its ability and mechanisms to monitor banks as the failure of VBS is inadvertently the failure of the SARB itself to protect ordinary citizens from being scammed by institutions masquerading as banks under its watch.”

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