ANC Secretary General Fikile Mbalula says former Limpopo ANC Treasury Danny Msiza is still affected by the step-aside rule on party politics. Mbalula made this statement during a media briefing in Gauteng over the weekend. Mbalula said the VBS Matter has been closed but those who have been charged for the alleged collapse of the bank must step aside.
Danny Msiza, along with 13 co-accused, has been implicated in the widespread looting of VBS Mutual Bank, which involved the misappropriation of billions of rand. Last year, the alleged mastermind behind the “Great Bank Heist” Tshifiwa Madodzi turned state witness.
In the affidavit, Madodzi allges that Msiza and other politicians pressured several munipalities in Limpopo, to invest over 300-million rand lost to VBS.
Tshifhiwa Matodzi, the former chairperson of VBS Mutual Bank, implicated Danny Msiza, the former ANC treasurer, in the illegal investment of municipal funds into the now-defunct bank. This revelation came to light in a detailed affidavit submitted by Matodzi.
Matodzi has since been sentenced to 15 years in prison for his role in the VBS scandal, which involved large-scale looting, fraud, and corruption. The scandal led to the collapse of the bank, causing significant financial losses for numerous municipalities and individuals, particularly in Limpopo province.
