Sibusiso Ndlovu
(The Post News)- Floyd Shivambu, the Deputy President of the Economic Freedom Fighters (EFF), is reportedly resigning from the party amidst the swirling vortex of the VBS Mutual Bank scandal. This sudden move comes as the party struggles to contain the fallout from allegations of corruption and malfeasance, which have implicated both Shivambu and EFF Commander-in-Chief, Julius Malema.
The VBS Mutual Bank scandal has cast a long shadow over the EFF, with allegations of widespread corruption and cronyism threatening to consume the party. Shivambu, once a trusted lieutenant of Malema, has found himself increasingly isolated and under scrutiny. Despite repeated denials of wrongdoing, the pressure on the party has intensified, culminating in Shivambu’s resignation.
However, sources close to the party suggest that Shivambu’s resignation is merely a symptom of a deeper rift between him and Malema. The two leaders have been at odds for some time, with disagreements over party strategy and finances simmering beneath the surface.
In 2020, Malema publicly rebuked Shivambu for his handling of the party’s finances, stating, “Floyd must learn to be transparent and accountable.” This public dressing-down marked a turning point in their relationship, with Shivambu’s influence within the party beginning to wane.
The tension between the two leaders came to a head during a heated EFF National People’s Assembly meeting in December 2022. Malema and Shivambu engaged in a fiery exchange, with Malema accusing Shivambu of being “dishonest” and “untrustworthy.”
As the VBS Mutual Bank scandal continues to unfold, it has become clear that both Malema and Shivambu are implicated in the alleged wrongdoing. The party’s initial denials of involvement have given way to a growing recognition that senior leaders may have benefited from the bank’s largesse.
In a statement, Malema acknowledged that the party had received funds from VBS Mutual Bank, but maintained that these were legitimate donations. However, sources suggest that the true extent of the party’s involvement may be far more sinister.
Shivambu’s resignation is expected to be announced at an EFF press conference, alongside other significant leadership changes. As the party navigates this tumultuous period, one thing is certain – the era of Shivambu’s influence within the EFF has come to an abrupt end.
In a parting shot, Shivambu stated, “I will not be sacrificed at the altar of expediency. The truth about VBS Mutual Bank will come out, and those responsible will be held accountable.”
The EFF’s leadership crisis has sparked widespread speculation about the party’s future. As the dust settles on Shivambu’s resignation, one thing is clear – the EFF will never be the same again.
About the Author
