Today's Labour News

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newsNews24 reports that the Giyani municipality on Sunday confirmed that its chief financial officer had been fired following his alleged involvement in the VBS Mutual Bank debacle.  

Municipal spokesperson Steven Mabunda said:  "The municipal council dismissed the CFO, Hitler Maluleke during a special council sitting on Friday, 19 October.  Part of the reason [for his dismissal] is that he was directly involved in the infamous VBS investment scandal and he is also accused of having authorised [payment] for some projects that were not done."  Mabunda said that Maluleke's involvement came to light when a full-time municipal manager was hired in January this year.  In the course of his duties, he uncovered some suspicious transactions.  A subsequent independent forensic investigation recommended that the CFO, as well as the director of technical services, be put on precautionary suspension.  On the eve of disciplinary hearings, the director of technical services, Precious Mathebula, resigned.  Maluleke's firing is the outcome of his disciplinary hearing.  A criminal case was also been opened against the two men in August.  The municipality remains unsure as to what will happen with the approximately R160m it had invested with VBS bank.

  • Read this report in full at News24
  • Read too, Cosatu in Limpopo province to target VBS looters, at Business Report

Get other news reports at the SA Labour News home page