Simelane urged to address the VBS loan claims

JOHANNESBURG - The DA has called revelations around the Justice Minister, Thembi Simelane, disturbing.

Daily Maverick and News24 have reported that Simelane received a loan of more than half a million Rand from a company that brokered unlawful investment into VBS Mutual Bank.

At the time Simelane was the mayor of Polokwane Municipality and that city invested around R350 million in VBS bank.

According to a 2018 report, it’s alleged that VBS actively bribed municipal officials to make massive deposits into VBS.

Many people who invested in the bank lost their life savings when VBS collapsed.