DA holds picket outside West Rand District Municipality

7 June 2018

This morning the DA held a peaceful picket outside the West Rand District Municipality over the illegal investment of R81 million of the people’s money with the VBS Mutual Bank.

See pictures here, here and here. Click here for sound clip.

A memorandum was handed over on behalf of the residents to West Rand District Municipality Mayor, Boyce Maneli with the following demands:

- An explanation as to how the R81 million invested with the VBS Mutual Bank will be recovered;

- An investigation to determine why this investment was made in the first place; and

- The executives, including those officials involved in making this investment, face disciplinary action.

VBS Mutual Bank was earlier this year put under curatorship by the South African Reserve Bank (SARB) and National Treasury.

As a result, for the coming financial year, the ANC in West Rand will have to present an unfunded budget.

This means that they will try to provide services and programmes with money they do not have to spend.

This money has been allocated for service delivery and the SARB has warned that it is unlikely that this money will be recovered.

The DA has been warning for months that this lack of fiscal management would have a negative impact on the day-to day running of the municipality and leave residents in the lurch.

The DA has requested that the Mayor, provides a response to the issues tabled within 14 days.

Only the DA can bring change to the West Rand. The residents of West Rand must be put first!

Issued by Adriana Randall MPL - DA Shadow MEC for Finance, 7 June 2018