CoGTA Committee’s Limpopo Municipality Tour Will Take In Public Meetings

Riyaz Patel

The Portfolio Committee on Cooperative Governance and Traditional Affairs (CoGTA) is continuing it’s Limpopo tour to gather first hand accounts of the chaotic state of municipalities which have invested in the Venda Mutual Bank (VBS), as well as those that have received repeated disclaimer audit opinions.

Inside Politic previously reported that municipalities that invested hundreds of millions into the VBS Mutual Bank are now ‘technically insolvent’ and some have had to postpone service delivery projects because they are broke.

Last week, the Committee summoned the Mopani, Vhembe, Collins Chabane, Greater Giyani and Makhado municipalities to hearings in Giyani and Thohoyandou.

Committee chairperson Faith Muthambi was emphatic that the hearings would lead to actions against those implicated in the saga dubbed ‘The Great Bank Heist,‘ saying they are working with law enforcement agencies.

Limpopo Municipalities that Invested in VBS Bank ‘Technically Insolvent,’ Cogta Committee Hears

Among some of