Mashatile admits ANC received R2 million donation from #VBSBank

Mashatile admits ANC received R2 million donation from #VBSBank

- The ANC's Treasurer-General admitted that the party received a donation from VBS Mutual Bank

- This comes after the ANC denied any donations from the bankrupt bank

- There were 2 payments from the bank to the ANC amounting to R2 250 000

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The African National Congress admitted to receiving a R2 million donation from the bankrupt VBS Mutual Bank.

The ruling party's Treasurer-General Paul Mashatile admitted that the ANC got money from the bank and then explained how it happened.

Mashatile said the ANC received 2 payments, one in 2016 - the R2 million and another was earlier this year.

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The Treasurer-General couldn't explain what the R2 million was for, as it was never written in the ANC's books. Mashatile was not serving as treasurer-general when this happened.

All he could say was that the money was given during the election campaign.

The other payment was to the amount of R250 000 and came from Vele Investments (owners of the bank), who paid for a table at the ANC's dinner on the 8th of January.

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This comes shortly after Minister Mkhize said he doesn't remember the R2 million donation that the ANC received from the bank in 2016.

eNCA reports that the bank was put under curatorship by SARB earlier this year thanks to allegations of mismanagement and fraud.

Here's what Mashatile had to say:

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