VBS issue: ‘Funds used meant for service delivery’

DA members outside WRDM offices demanding answers about the VBS investment.

The DA made an attempt to hand over a memorandum to the West Rand District Municipality (WRDM) earlier on Tuesday morning (23 October) demanding that the municipality publicly declare the amount of money invested in the controversial bank, VBS.

However, it was a no-show from the WRDM, and the memorandum was not received by the municipality.

Also Read:

VBS Mutual Bank saga: Municipality invested various amounts

Speaking about the memorandum, councillor Seph Sekhokho said, “We demand that the reason for this deposit which was in contravention of the Public Finance Management Act (PFMA) be made public. Furthermore, we demand that the disciplinary action to be taken against all officials implicated in this matter be made public.”

Sekhokho added that the funds used for the investment were meant for service delivery. Since there was no one from the municipality available to receive the memorandum, the municipality will be petitioned.

Do you perhaps have more information pertaining to this story? Email us at [email protected]  (please remember to include your contact details in the email) or phone us on 011 693 3671.

Www free daily local news on the West Rand, also visit our sister newspaper websites

Roodepoort Record

Krugersdorp News 

Get It Joburg West Magazine

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  AUTHOR
Tumi Riba
Journalist

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