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Floyd Shivambu Left Isolated as EFF Distances Itself from VBS Scandal
Once a key ally, now a political outcast
Floyd Shivambu, once the fiery deputy president of the Economic Freedom Fighters (EFF), now finds himself out in the cold. The party he helped shape has turned the spotlight firmly on him over allegations linked to the collapse of VBS Mutual Bank.
EFF spokesperson Sinawo Thambo made it clear in a written response to The Citizen that Shivambu alone carries responsibility. Thambo stressed that parliament had sanctioned Shivambu for failing to declare money he received through VBS-linked channels, while party leader Julius Malema had been cleared of wrongdoing on the same issue. “If there was any corruption in the EFF, Shivambu is best placed to know it,” Thambo said.
For many South Africans who remember the shocking 2018 bank collapse, this marks another chapter in a saga that drained billions from ordinary depositors and municipalities. What remains now is a high-stakes political blame game.
A scandal that refuses to fade
In 2023, parliament’s ethics committee found that Shivambu failed to disclose R180 000 from Sgameka Projects, a company tied to his brother and linked to VBS. Though whispers have long suggested that other senior EFF figures benefited, the party has consistently denied it.
The issue, however, has never truly gone away. Communities hit hardest by the VBS collapse, particularly pensioners and small-town municipalities, have not forgotten. On social media, critics regularly resurface the scandal whenever the EFF takes a moral stance on corruption. Now, with the party itself pointing fingers at Shivambu, the narrative has shifted from denial to internal distancing.
Shivambu fights back
Shivambu, however, is not leaving quietly. In a recent SABC interview, he claimed the EFF is not a credible governing alternative. He accused his former comrades of behaving like the ANC, saying their conduct in government betrayed the values on which the EFF was founded.
He went further, alleging that many public representatives in the party engaged in misconduct that leadership failed to act against. He painted a picture of internal rot, where organisational resolutions shielded wrongdoing rather than confronted it.
According to Shivambu, things worsened after the 2021 local elections, when coalition politics opened the door to self-enrichment. This, he says, was a turning point that convinced him to walk away.
A political wanderer
Since leaving the EFF, Shivambu has bounced between political homes. He briefly served as secretary-general of the MK party but later accused it of its own shady dealings. Today, he leads his own movement, Afrika Mayibuye, as its president.
Whether this latest venture will gain traction remains to be seen. What is clear is that Shivambu has gone from being a central figure in one of South Africa’s loudest opposition parties to a man trying to build relevance from scratch.
The bigger picture
The VBS scandal is more than just a personal crisis for Shivambu. It highlights the fragility of trust in South Africa’s political class. For voters, especially in communities still grappling with the aftermath of collapsed banks and broken promises, it fuels the perception that corruption crosses party lines.
As the EFF prepares for its next political battles, casting Shivambu adrift may help it shield itself from lasting reputational damage. But for Shivambu, the fight is now personal. His political survival depends on convincing the public that he was more of a whistleblower than a beneficiary.
Also read: Johannesburg Water Crisis: Premier Calls Urgent Meeting
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Source: The Citizen
Featured Image: Polity.org
