The Merafong Municipality has illegally invested R50 million with the VBS Mutual Bank – money which was allocated for service delivery. The South African Reserve Bank has warned that this money is most likely irrecoverable.
As a result, for the coming financial year, the ANC in Merafong will have to present an unfunded budget, which means that they will try to provide services and programmes with money they do not have to spend.
Sign our petition to demand accountability on the Merafong Municipality investment of public funds with the now-defunct VBS Bank:
Those who abuse public funds meant for service delivery must face the full might of the law.
In 2019, residents of Gauteng will be afforded the opportunity to elect a government that will bring positive change and a professional style of governance to all 13 million of the province’s citizens.
Only the DA can bring that change.