The Economic Freedom Fighters (EFF), South Africa’s third-largest political party, is facing a leadership crisis as its deputy president, Floyd Shivambu, has reportedly resigned from the party. According to insider sources, Shivambu’s decision comes amidst growing internal tensions and the fallout from the VBS mutual bank scandal, which has plagued the party’s leadership.
Shivambu’s Resignation and Leadership Tensions
Highly placed sources within the EFF have confirmed that Shivambu has requested to be released from his duties. The sources also indicated that Shivambu is seeking the approval of the party’s leader, Julius Malema, before making his resignation official. The resignation of such a high-ranking member signals significant unrest within the party, especially following a lackluster performance in the May general elections where the EFF failed to expand its voter base.
The EFF has announced an “urgent press conference” scheduled for Thursday, where party officials are expected to address the situation. The announcement will reportedly include “radical leadership changes,” highlighting the severity of the internal crisis.
VBS Scandal and Corruption Allegations
The turmoil within the EFF’s leadership is closely tied to the ongoing VBS mutual bank scandal, which has cast a long shadow over the party. Both Julius Malema and Floyd Shivambu have been accused of benefiting financially from the scandal, involving corruption, fraud, and money laundering.
The allegations against Malema and Shivambu came to light when Tshifhiwa Matodzi, the former chair of VBS, implicated them in receiving illegal funds from the bank. Matodzi, who has pleaded guilty to 33 charges, including corruption, theft, and money laundering, claimed that the EFF received monthly donations and a so-called business loan of millions of rands from VBS through a front company, Sgameka Projects.
These funds, according to Matodzi, were essentially bribes, with Malema and Shivambu allegedly benefiting personally. The scandal has had devastating effects, particularly on low-income depositors in Limpopo, who lost over R2 billion when the bank collapsed. The accusations have significantly damaged the party’s reputation, fueling the internal discord that has now led to Shivambu’s resignation.
Future of the EFF and Potential Implications
The resignation of Floyd Shivambu marks a critical juncture for the EFF as it grapples with the fallout from the VBS scandal and its disappointing electoral performance. The upcoming press conference is expected to shed light on the party’s future direction and how it plans to navigate the current crisis.
For the EFF, a party that has positioned itself as a champion of economic justice and the rights of the poor, the scandal and subsequent leadership turmoil represent a severe challenge to its credibility. The allegations against its top leaders threaten to undermine the party’s core message and could have long-term implications for its standing among South African voters.
As the EFF prepares to announce leadership changes, all eyes will be on how Julius Malema and the remaining leadership plan to steer the party through these turbulent times. The internal struggle within the EFF could reshape the political landscape in South Africa, particularly if the party fails to address the corruption allegations effectively and restore confidence among its supporters.
Source: New Zimbabwe
