3 days ago
'VBS was our lifeline': Ramokgopa pressures treasury to restore Limpopo's lost bank
ANC treasurer-general Gwen Ramokgopa pleads with government to help rebuild VBS.
Image: File photo
ANC treasurer-general Dr Gwen Ramokgopa issued a stirring plea to the South African Reserve Bank and National Treasury: step in and help to rebuild the looted and collapsed Venda Business Society (VBS) Mutual Bank.
Ramokgopa was speaking on Thursday at a packed memorial service for ANC veteran and revered liberation figure, Reverend Dr Tshenuwani Simon Farisani, held at the George Phagadi Town Hall in Thohoyandou.
The late struggle stalwart and former Lutheran bishop passed away on May 29. His funeral will take place on Saturday at the University of Venda Stadium.
In her tribute, Ramokgopa honoured Farisani's lifelong commitment to justice, recalling his outspoken defence of VBS victims who lost life savings and community investments when the bank collapsed under a staggering R2 billion looting scandal.
'Government, under President Cyril Ramaphosa, has been for the people. We always said those who stole from VBS must be punished and languish in jail,' Ramokgopa said, adding that the Finance Department and the Reserve Bank should assist the suffering community to revive their only hope, VBS.
In her address, Ramokgopa reminded the nation of the Vhembe community's enduring pain — a pain worsened by betrayal and scandal.
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Since the shocking collapse of VBS in 2018, over 53 individuals have been charged with theft, fraud, corruption, money laundering, and violations of the Prevention of Organised Crime Act — accused of siphoning more than R2 billion from the mutual bank that once symbolised financial hope for Limpopo's people.
Ramakgopa emphasised that the government has successfully rebuilt several institutions and therefore VBS should not be an issue.
'We have also successfully rebuilt the Limpopo provincial government after it collapsed through fraudulent activities,' she said.
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