Polokwane Municipality Distances Itself From Simelanes Vbs Loan

19 Days(s) Ago    👁 89
polokwane municipality distances itself from simelanes vbs loan

The Polokwane Municipality has distanced itself from allegations against its former Mayor and current Justice and Constitutional Development Minister Thembi Simelane.

This comes amid allegations that Simelane has secured a loan of R500 000 from a company that allegedly brokered investments of nearly R350 million by the Polokwane municipality in the now-defunct VBS Mutual Bank in 2016.

Simelane was serving as a Mayor of Polokwane when she allegedly secured the loan.

She reportedly used the loan to purchase a coffee shop in Sandton, Gauteng.

The municipalitys spokesperson Thipa Selala admits that the municipality had invested money in VBS Mutual Bank but later withdrew it.