Tuesday , October 26 2021

VBS sells SACP for millions of dollars – Report – The Citizen



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Embassed VBS Mutual paid millions of dollars to the South African Communist Party (SACP). According to the City Press, it paid millions of dollars to the South African Communist Party (SACP) for its silence on its relationship with Guptas.

A former VBS senior executive made a report to the bank that he had been ordered to pay $ 300 million to the SACP for the national convention. This request is supposed to have been filed by WhatsApp with Tshifhiwa Matodzi, former president of Vele Investments, the majority shareholder of the bank.

"On July 6, he [the branch manager] Matodzi said, "I received a WhatsApp message saying that we have to pay $ 3 million for the SACP national convention." Matodzi said SACP leaders were being pressured to complete the payment because the SACP meeting had begun the following day.

Executives who demanded anonymity said that Vele Investments paid the money through its subsidiary to hide the link between the bank and the SACP.

The report found that the SACP had a link to VBS Mutual and was strongly rejected after being caught up in a scandal over extensive plunder and transplantation.

Matodzi said there is no comment on this report.

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