Ramaphosa mulls Simelane’s explanation on VBS loan

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Ramaphosa mulls Simelane’s explanation on VBS loan
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The president’s office said that he was mindful of the need for integrity in his cabinet

Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.In doing so, Ramaphosa would bear in mind the need for the “highest levels of integrity within the national executive”, his spokesman Vincent Magwenya told a routine media briefing in Cape Town.

The same company had solicited deposits of millions of rands from the Polokwane municipality on behalf of VBS, despite public finance rules barring municipalities from placing money with mutual banks. She paid 50% interest, she said. This prompted incredulous questions as to why she had not only seen fit to take money from a company that was doing business with the municipality but charged unfavourable rates.

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