Floyd Shivambu’s resignation as deputy president of South Africa’s Economic Freedom Fighters (EFF) was prompted by a fallout with party leader Julius Malema, a senior party insider has claimed.
Mr Shivambu submitted his resignation on Wednesday evening, following what sources describe as a bitter leadership dispute.
According to a high-ranking EFF member who spoke to City Press, wealthy businesspeople had approached Mr Shivambu with offers to fund a leadership challenge against Mr Malema at the party’s upcoming December congress.
“All hell broke loose after Malema apparently got wind of what Shivambu was up to,” the source said.
The EFF is expected to address the media at noon on Thursday at their Johannesburg headquarters, where Mr Malema may announce additional resignations, including that of Mzwanele Manyi, who became an EFF MP in June 2022.
Mr Shivambu has been the EFF’s deputy leader since its formation in 2013. His departure comes after the party’s poor performance in recent elections, where it slipped to fourth place behind the new Umkhonto weSizwe Party.
The resignation is further complicated by allegations linking Mr Shivambu to the VBS Mutual Bank scandal. Tshifhiwa Matodzi, a key figure in the case, has suggested there is evidence implicating both Mr Shivambu and Mr Malema in a scheme to defraud the bank.
These claims allege the pair used illicit funds to finance lavish lifestyles and property purchases, resulting in significant losses for many bank clients, including pensioners.
The EFF has not yet commented on these allegations or the reasons behind Mr Shivambu’s resignation.
