VBS Heist: Six years later, perpetrators must be brought to book

14 August 2024

The DA today renewed its call for justice in the VBS looting scandal during a media briefing at the Pretoria High Court, where the pre-trial in the VBS case is taking place. Six years after the scandal broke, the DA demands that it is time for those responsible to be held accountable, including politicians who allegedly benefited from this crime.

In 2018, the VBS scandal exposed widespread looting by bank officials and politicians, including senior leaders of the EFF, Floyd Shivambu and Julius Malema. Nearly six years later, while we see criminal prosecutions against VBS officials, the politicians implicated remain unscathed, raising serious concerns about the pace of justice.

The DA has been relentless in its pursuit of accountability. In October 2018, we filed criminal charges against 50 individuals named in the South African Reserve Bank (SARB) forensic report. In November 2018, we charged Floyd Shivambu and Julius Malema with accepting R1.8 million from VBS. However, the South African Police Service (SAPS) has yet to complete its investigations.

This absence is unacceptable and the DA has called on the Police Portfolio Committee to play an oversight role and ensure these investigations are completed.

While we accept the charges against VBS officials, we are deeply concerned about the lack of progress in arresting the suspected politicians. The DA presented evidence, including testimony from Tshifhiwa Matodzi, a key figure in the VBS scandal, that Shivambu and Malema were involved in defrauding VBS Bank and its vulnerable customers.

The DA condemned the theft of pensioners’ money and the use of local government funds to support corrupt politicians and officials. This abuse of public trust, especially with the most vulnerable, is unacceptable. Those responsible for this project should be questioned.

As an organisation that upholds the rule of law, the DA is focused on fighting corruption and promoting good conduct in public institutions. Corruption is not a random crime – it affects people’s lives.

The DA will now reach out to the VBS Stakeholders Forum to support and assist victims in their recovery process.

The DA has asked the Parliamentary Committee on Police to ensure the SAPS completes its investigation as quickly as possible. Justice delayed is justice denied. Now is the time for results.

Issued by Baxolile Nodada, Deputy Chief Whipe of the DA, 14 August 2024