VBS Mutual Bank has been placed under curatorship.
South African Reserve Bank (SARB) Governor Lesetja Kganyago announced this late on Sunday afternoon at a media briefing in Pretoria.
The bank came under the public spotlight in September 2016 after it gave former president Jacob Zuma a loan to repay R7.8-million as ordered by the Constitutional Court for non-security upgrades at his private Nkandla homestead.
Continue reading…