AG Reports R1.6 Billion Loss in Municipal Funds Linked to Defunct VBS Bank Investments
The Auditor General (AG) has reported that municipalities lost R1.6 billion after investing in the now-defunct Venda Building Society (VBS)…
Tag: Municipal
Material Irregularities, Suspected Fraud Result In Municipal Losses Of Over R7bn For 2022/2023, Reveals AG
Material irregularities and suspected fraud within South Africa’s municipalities have led to financial losses exceeding R7 billion in the past…