No work, R2m pay for VBS-linked manager via TheCitizen_News
A bankrupt Limpopo municipality has spent nearly R2 million on the salary of a suspended manager because the municipality’s legal team had not been able to crack the case for nearly two years. The manager, Minah Maredi, was suspended in November 2018 for allegedly wrongfully investing R40 million into the now defunct VBS Mutual Bank . The investment was later found by the council to be illegal and against the prescripts of the Municipal Finance Management Act.
The investment was later found by the council to be illegal and against the prescripts of the Municipal Finance Management Act. It was also found to have been against warning from the National Treasury, which cautioned municipalities not to invest municipal funds into a mutual bank.understands Maredi and the municipality’s chief finance officer George Mapheto were given a letter of intention to suspend by the municipality during a special council sitting of 1 November 2018.
The application was later dismissed with costs by the Labour Court. Mapheto allegedly resigned soon after the suspension.
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