Banking authority gets liquidation knives out for VBS

[Click here for the web version of this email]( [Daily Maverick] Tuesday, 30 October 2018 While You Were Working [PA targets 'hopelessly insolvent' VBS]( The Prudential Authority has filed court papers to have VBS liquidated. The PA argued to the court that, although VBS was under curatorship, the bank should end this phase and head straight to liquidation. This was because, the PA said, VBS was "hopelessly insolvent". [DA to try vote out VBS-tainted politicians]( A special council meeting held this afternoon could see Makhado Municipality mayor Mildred Sinyosi and municipal manager Johannes Kandwendo out of office. The two officials, the DA believe, benefited to the tune of millions from the VBS heist. Just what the ANC will think of the motion and, more crucially, how it will vote, remains to be seen. [The new VW Touareg]( [Unemployment rates skyrocket]( 27.5 percent is the new unemployment rate according to the Quarterly Labour Force survey. Looking beyond the official rate, adjusted unemployment figures hit a woeful 37.3 percent. Although government and Minister Mboweni's adjusted budget hope to turn this around, the future could not look bleaker for the jobless. [Zimbabwe hopes for $700-million from new tax]( A new tax on money transfers in Zimbabwe hopes to generate at least $700-million per year. Finance Ministry Permanent Secretary George Guvamatanga updated local media on the projects, stressing that the move was necessary to generate cash from the massive informal sector that blossomed under the ineptitude of Robert Mugabe. [The new VW Touareg]( [Become an Insider]( Maverick Insider is more than just about financially supporting quality, independent journalism and keeping it accessible for all readers. It’s also about building a community with our loyal readers who want to share in unique experiences and help us write this new chapter of Daily Maverick. [Click here]( to get a closer look at the Truth. Featured Articles [Unemployment rise adds to Ramaphosa’s economic woes]( [Unemployment rise adds to Ramaphosa’s economic woes]( BY Greg Nicolson [Constitutionalism and the quality of democracy: are we immune to fascism?]( [Constitutionalism and the quality of democracy: are we immune to fascism?]( BY Raymond Suttner [New leaked reports show why train security has collapsed]( [New leaked reports show why train security has collapsed]( BY GroundUp Opinionistas [A message for the SAPS and KwaZulu-Natal ANC: Hands off Bheki Buthelezi and Sizwe Shiba]( BY Vanessa Burger [Decolonisation: The perpetuation of normalised racism?]( BY Jeff Rudin [The new VW Touareg]( [FORWARD THIS EMAIL TO A FRIEND]( Copyright © 2018 Daily Maverick, All rights reserved. You are receiving this mail because you are awesome and on the Daily Maverick Afternoon Thing subscriber list. Want to advertise in this mail? [Talk to us.](mailto:advertise@dailymaverick.co.za?subject=Advertising%20query%3A%20Afternoon%20Thing) [Getting too many emails from us? Manage your preferences]( | [Unsubscribe](