VBS Mutual Bank has fired 94 employees, leaving the bankrupt bank with 26 staff members.
Nearly R2 billion has been deceptively paid to individuals and institutions, especially officials from municipalities who have insured that funds are invested at the bank.
Branches are closed and only Thohoyando and Makhodo branches will operate.
The dismissed workers are dissatisfied and believe they should now be penalized for the actions of the bank’s management and directors.
Read the original article in Afrikaans on Die Vryburger