Image via Twitter
Image via Twitter
As VBS Bank was looted to the hilt by some of its most senior officials, the reality of what they were doing never really hit home until they got caught.
As EWN report, it is the employees of the establishment who have been hit hardest, paying for the willful maladministration with their jobs.
VBS scandal heads to the National Assembly
The ANC has now tabled a motion to have the fiasco discussed in Parliament next Tuesday. Oh boy, is that going to be a firecracker. The proposed debate, titled The VBS Mutual Bank Report: The Great Bank Heist – a matter of public importance, will forensically analyse what went wrong at the institution.
The ruling party have initiated this debate, knowing that their provincial deputy chairperson (Florence Radzilani) and treasurer in Limpopo (Danny Msiza) are heavily implicated. The EFF will also have some demons to face, as Deputy President Floyd Shivambu will field fierce questions about his brother, Brian.
Brian Shivambu is reported to have pocketed R16 million from the debacle. Floyd isn’t in the clear himself either, with the Daily Maverick claiming he’s R10 million better off from their coffers.
VBS Bank in numbers: How workers have been affected
However, as intriguing as a political whodunnit may be, it’s worth remembering the very human cost at the heart of all this. Since being put in curatorship at the end of July, 94 workers have lost their jobs.
Thavhani, Johannesburg, Durban and Sibasa are four of the branches that have been completely shut down, as VBS plan to hold on to what little remaining resources they have. News24 report that the bank will operate with 26 remaining staff operating from one solitary location.
Meanwhile, 90% of the retrenched workers were reportedly in line for a 13th cheque. However, those 83 ex-employees will at least receive a compensation package from VBS after their acrimonious downfall.
