Floyd Shivambu Resigns as EFF Deputy President Following Fallout with Malema

Floyd Shivambu, the deputy president of the Economic Freedom Fighters (EFF), has tendered his resignation, reportedly due to a significant fallout with the party’s leader, Julius Malema. Shivambu, who has held his position since the party's formation in 2013, submitted his resignation on Wednesday evening, according to a report by City Press.

It is reported that the fallout between Shivambu and Malema stemmed from Shivambu's alleged dealings with a group of wealthy business people. These individuals reportedly offered Shivambu substantial financial backing to challenge Malema at the EFF’s upcoming elective congress in December, a proposition that Shivambu purportedly accepted.

However, tensions escalated when Malema became aware of Shivambu’s alleged plans, leading to what sources describe as an intense confrontation between the two leaders. The situation reached a boiling point, ultimately prompting Shivambu’s resignation.

The EFF is expected to address the media at their Braamfontein headquarters in Johannesburg at noon on Thursday, where Malema is anticipated to officially announce Shivambu’s resignation. Shivambu may not be the only one stepping down, with other resignations, including that of Mzwanele Manyi, also likely to be announced. Manyi, who joined the EFF as a Member of Parliament in June last year, is said to have resigned after just over a year in the party, following a short stint with the African Transformation Movement (ATM).

Shivambu’s resignation comes at a critical time for the EFF, which had hoped to make significant gains in the recent elections, particularly in Gauteng and KwaZulu-Natal. However, the party faced a disappointing electoral outcome, slipping from its position as the third-largest party to fourth place, overtaken by the newly established Umkhonto weSizwe Party, led by former President Jacob Zuma.

Adding to the turmoil are ongoing allegations surrounding Shivambu’s involvement in the VBS Mutual Bank scandal. The scandal, which has marred the reputations of several political figures, involves accusations of corruption and large-scale looting. Tshifhiwa Matodzi, a key figure in the VBS scandal, recently had his witness statement leaked, which reportedly contains evidence implicating both Shivambu and Malema in a scheme to defraud the bank and its clients.

As the EFF faces these internal challenges, Shivambu’s departure marks a significant shift in the party’s leadership dynamics, raising questions about the future direction of the party as it navigates these turbulent times.