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

PAY ATTENTION: Click “See First” under the “Following” tab to see Briefly.co.za News on your News Feed!

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.

PAY ATTENTION: Save mobile data with FreeBasics: Briefly is now available on the app

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.

READ ALSO: BLF tells black DA members to take white leaders' homes and join them

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:

Enjoyed reading our story? Download BRIEFLY's news app on Google Play now and stay up-to-date with major South African news!

Source: Briefly.co.za

Related news
Vytjie Mentor retracts testimony in state capture investigation

Vytjie Mentor retracts testimony in state capture investigation

Vytjie Mentor retracts testimony in state capture investigation
Briefly.co.za
Mailfire view pixel