The ANC has admitted it received R2m from the large-scale looting at VBS Mutual Bank. Treasurer-general Paul Mashatile admitted on eNCA yesterday that, as the Sunday Times reported at the weekend, the party received a R2m donation from the bank's majority shareholder, Vele Investments. Mashatile said the investment company paid R2m to a service provider on behalf of the ANC ahead of the 2016 local government elections, but that he did not know what it was for, notes a News24 report.

He also admitted that the amount was not documented in the ANC's books.

Mashatile said Vele also bought a table for R250 000 through the party's Progressive Business Forum at a gala dinner held by the ANC during its 8 January birthday celebrations in East London. ‘They just bought a table. If you recall, at the time there were no issues about VBS, so nobody was alert to that. Normally, when our team sells tables to companies, we don't really inspect their books or check those things,’ said Mashatile.

The report adds that ANC Limpopo deputy chairperson Florence Radzilani and treasurer Danny Msiza were implicated in the report on large-scale looting at VBS, which was authored by Advocate Terry Motau and law firm Werksmans Attorneys.

In it, Msiza was labelled as a political influencer and fixer who got municipalities to invest in VBS.

Fifty-three individuals – including Radzilani, Msiza and EFF deputy president Floyd Shivambu's younger brother Brian Shivambu – have been implicated in the report into the looting of almost R1.89bn from the bank.

Full News24 report