(a) According to National Treasury’s database of Section 71 reports submitted by the municipality as at 30 June 2016, investments with VBS Mutual Bank were made by the following municipalities:
(i) West Rand District Municipality
(ii) Capricorn District Municipality
(b) Municipalities do not make loans to financial institutions and /or banks as a standard practice as they are not allowed to lend money to financial institutions. There is also no municipality that has a primary bank account with VBS Mutual Bank.
(c) There are no other municipalities that have invested with VBS Mutual Bank according to the National Treasury’s database.
(d) According to National Treasury’s database of Section 71 reports submitted by the municipality as at 30 June 2016, investments with VBS Mutual Bank were made by the following municipalities:
Name of Municipality |
Start Date |
End Date |
Amount |
Balance |
West Rand Municipality |
24/02/2015 |
23/08/2015 |
R21 million |
R0 |
West Rand Municipality |
22/03/2016 |
23/09/2016 |
R10 million |
R10 million |
West Rand Municipality |
30/03/2016 |
23/04/2016 |
R15 million |
R0 |
West Rand Municipality |
08/04/2016 |
07/06/2016 |
R15 million |
R0 |
Capricorn District Municipality |
01/04/2016 |
30/06/2016 |
R120 million |
R0 |