The Floyd Shivambu Scandal: A Crucible for the EFF

In a controversy threatening to undermine the credibility of the Economic Freedom Fighters (EFF), Floyd Shivambu, the party’s number two, is under scrutiny for allegedly receiving undisclosed payments from a company linked to the VBS Mutual Bank. According to the parliamentary ethics committee, Shivambu failed to declare three separate transactions received in 2017, amounting to R180,000. As a result, the committee is proposing a penalty equal to nine days of his salary.

This revelation can potentially contradict Shivambu’s 2018 denials when he was initially accused of siphoning R10 million from VBS Mutual Bank through his brother's company. Brian Shivambu's company is allegedly linked to a R2 billion money-grab at the bank. At the time, Floyd Shivambu dismissed these claims as “cheap politicking” and categorically denied having any dealings with the bank under scrutiny.

The unfolding circumstances present a significant trial for the EFF, a political entity that has always taken a hard line against corruption. The party has since disputed the ethics committee’s report and has inferred the possibility of escalating this matter to court.

Notwithstanding the innocence-preserving legal presumption "innocent until proven guilty", a considerable challenge lies ahead for the EFF: determining the party's future course if the courts uphold the ethics committee’s judgement. This specifically gains relevance given Shivambu’s potential interest in succeeding Julius Malema, the party's current leader.

As of now, it's clear that either Shivambu deceived the public about not procuring dirty money from VBS, or the ethics committee has erred in their findings. Future developments will invariably unveil the truth.