The VBS Stakeholders' Forum says it hasn’t abandoned its bid to claw back money for depositors who lost their savings when the mutual bank collapsed. VBS was placed under liquidation in 2018. Now dubbed the "Great Bank Heist", more than R2 billion was siphoned from the establishment in an elaborate scandal. The VBS Stakeholders' Forum said that dozens of depositors were still reeling from the collapse of VBS. The forum represents more than 2,000 minority shareholders. Its secretary, Robert Livhoyi, said that not only had some depositors not recovered but they’d also been left out of the cold. Thabiso Tema speaks to VBS Mutual Bank shareholders' Forum secretary, Robert Livhoyi.

The VBS Stakeholders' Forum says it hasn’t abandoned its bid to claw back money for depositors who lost their savings when the mutual bank collapsed. VBS was placed under liquidation in 2018. Now dubbed the "Great Bank Heist", more than R2 billion was siphoned from the establishment in an elaborate scandal. The VBS Stakeholders' Forum said that dozens of depositors were still reeling from the collapse of VBS. The forum represents more than 2,000 minority shareholders. Its secretary, Robert Livhoyi, said that not only had some depositors not recovered but they’d also been left out of the cold. Thabiso Tema speaks to VBS Mutual Bank shareholders' Forum secretary, Robert Livhoyi.

POWER Breakfast is a fast paced three-hour news and current affairs show, alternating between the latest breaking news, political coverage, analysis, sport, market reports, weather and all your calls. Whether you’re in business, the public service or just want to stay informed, tune in as Thabiso TT Tema connects you to your world.

POWER Breakfast is a fast paced three-hour news and current affairs show, alternating between the latest breaking news, political coverage, analysis, sport, market reports, weather and all your calls. Whether you&rsquo;re in business, the public service or just want to stay informed, tune in as Thabiso TT Tema connects you to your world.

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VBS Shareholders Forum seek out new banking license and for Liquidators to continue collecting money from those who borrowed it and selling of the assets to be applied to recover the money

The National Prosecuting Authority (NPA) welcomed the Supreme Court of Appeal’s (SCA’s) ruling that found that assets obtained through crime could not be hidden in trusts and could be frozen and seized pending the finalisation of a criminal case. This is after the national director of public prosecutions (NDPP) used the Prevention of Organised Crime Act (Poca) against the directors of Regiments Group, Dr Eric Wood, Niven Pillay and Litha Nyhonyha, to seize property including assets held in trusts on behalf of the directors. They face allegations of corruption, money laundering and fraud involving about R1bn. Thabiso Tema speaks to Legal Analyst, Advocate Romeo Nthambeleni.

The National Prosecuting Authority (NPA) welcomed the Supreme Court of Appeal’s (SCA’s) ruling that found that assets obtained through crime could not be hidden in trusts and could be frozen and seized pending the finalisation of a criminal case. This is after the national director of public prosecutions (NDPP) used the Prevention of Organised Crime Act (Poca) against the directors of Regiments Group, Dr Eric Wood, Niven Pillay and Litha Nyhonyha, to seize property including assets held in trusts on behalf of the directors. They face allegations of corruption, money laundering and fraud involving about R1bn. Thabiso Tema speaks to Legal Analyst, Advocate Romeo Nthambeleni.

How POCA Act is helping combat crime: SCA ruling on seizure of ‘hidden’ assets gained through crime

The Joburg City Power board said that the scrapping of the R200 electricity surcharge would have a negative impact on its ability to supply power to residents.  As of 1 July, City Power began charging its customers on prepaid meters a monthly R200 service and network capacity fee. While the tariff was passed by the Johannesburg council back in May, the widespread outcry has brought it back to the minds of many political parties in the city. For many years, Joburg City Power has been charging post-paid and large power users a network and service fee.  The only type of user that was exempted from this fee, were prepaid customers.  Thabiso Tema speaks Chairperson of the City Power Board, Bonolo Ramokhele.

The Joburg City Power board said that the scrapping of the R200 electricity surcharge would have a negative impact on its ability to supply power to residents.  As of 1 July, City Power began charging its customers on prepaid meters a monthly R200 service and network capacity fee. While the tariff was passed by the Johannesburg council back in May, the widespread outcry has brought it back to the minds of many political parties in the city. For many years, Joburg City Power has been charging post-paid and large power users a network and service fee.  The only type of user that was exempted from this fee, were prepaid customers.  Thabiso Tema speaks Chairperson of the City Power Board, Bonolo Ramokhele.

City Power board concerned over the scrapping of R200 surcharge

President Cyril Ramaphosa has signed the Public Procurement Bill, which aims to create a single framework for the procurement of goods and services by all organs of State in a manner that facilitates preferential procurement and reduces the risk of corruption. The Public Procurement Act will be administered by the Minister of Finance and applies to departments, constitutional institutions, municipalities, municipal entities, and public entities. Among its wide-ranging provisions, the Act lists persons disallowed from submitting bids, including public office bearers, employees of Parliament or provincial legislatures, and officials or employees of public entities, constitutional institutions, municipalities and municipal entities. Thabiso Tema speaks to the Advocacy Coordinator at the amaBhungane Centre for Investigative, Caroline James.

President Cyril Ramaphosa has signed the Public Procurement Bill, which aims to create a single framework for the procurement of goods and services by all organs of State in a manner that facilitates preferential procurement and reduces the risk of corruption. The Public Procurement Act will be administered by the Minister of Finance and applies to departments, constitutional institutions, municipalities, municipal entities, and public entities. Among its wide-ranging provisions, the Act lists persons disallowed from submitting bids, including public office bearers, employees of Parliament or provincial legislatures, and officials or employees of public entities, constitutional institutions, municipalities and municipal entities. Thabiso Tema speaks to the Advocacy Coordinator at the amaBhungane Centre for Investigative, Caroline James.

The Public Procurement Act, is aimed at regulating the processes, including preferential procurement by all organs of state with necessary efficiency, cost-effectiveness and integrity.

VBS Shareholders Forum seek out new banking license and for Liquidators to continue collecting money from those who borrowed it and selling of the assets to be applied to recover the money

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