Municipalities have paid out officials implicated in VBS saga - Faith Muthambi

The Portfolio Committee on Cooperative Governance and Traditional Affairs says it is making in-roads in its visit to municipal areas in Limpopo affected by the VBS Mutual Bank scandal.

Several municipalities illegally invested their money in the bank before it collapsed last year.

The committee says it has met with four municipalities between Thursday and Friday, as well as residents around the Vhembe District Municipality.

RELATED: Cogta visit Limpopo areas affected by VBS scandal

Committee chairperson Faith Muthambi says there has been a clear lack of consequence management.

She said individuals implicated have been criminally charged.

I think we are making in-roads.

Faith Muthambi, Chairperson - Portfolio Committee on Cogta

The other issue that we picked up is that some municipalities have gone to the extent of paying out municipal managers and chief financial officers who have been identified in this saga and were central to the investment of the money.

Faith Muthambi, Chairperson - Portfolio Committee on Cogta

We have got a report from the Hawks that there are cases with the municipalities.

Faith Muthambi, Chairperson - Portfolio Committee on Cogta

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