Maroc - dailynews.co.za - News - 15/Aug 10:14

BREAKING NEWS: Floyd Shivambu quits the EFF to join Jacob Zuma’s MK Party

Floyd Shivambu, has dropped a bombshell on Thursday and confirmed that he has resigned from the Economic Freedmom Fighters and was joining former president Jacob Zuma’s MK Party.Shivambu, flanked by Julius Malema and other leaders of the EFF read out his resignation letter and confirmed that he would be joining MK Party.Highly placed sources confirmed to IOL that Shivambu wanted to be released from his duties.However, according to these sources, Shivambu wants Julius Malema, the leader of the EFF to accept the decision.It is said that difficulties, including the VBS scandal have shaken the EFF in the wake of the May general elections where the party were unable to grow its support.An "urgent press conference" with party officials has been scheduled Thursday.This is where the EFF will announce the “radical leadership changes”, according to the sources.♦️Happening Today♦️Media Invited To An Urgent EFF Press Conference Today#EFFPresser pic.twitter.com/jEgS43oR8i— Economic Freedom Fighters (@EFFSouthAfrica) August 15, 2024 Economic Freedom Fighters (EFF) leaders Julius Malema and Floyd Shivambu have been in the media spotlight following claims that they financially benefited from the VBS mutual bank scandal.The two have been accused of corruption, fraud, and money laundering.This comes after the bank’s chair, Tshifhiwa Matodzi, alleged that Malema and Shivambu were implicated in accepting illegal benefits from the bank.Matodzi pleaded guilty to 33 charges, including corruption, theft, and money laundering. He stated that the EFF has received monthly donations and a so-called business loan of millions of rands from the bank since 2017 through a front company, Sgameka Projects.According to Matodzi's allegations, the EFF received the money as a bribe, with Malema and Shivambu in particular benefiting personally.Many low-income depositors in Limpopo were affected when more than R2 billion was taken from VBS.kamogelo.moichela@iol.co.zaIOL Politics