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S. Africa savers hit by bankruptcy of VBS

S. Africa savers hit by bankruptcy of VBS

Business Africa

The economic crisis within the South African banking institution VBS has not spared its clients, especially small savers, who have been abandoned.

Corruption and embezzlement at the heart of the scandal that continues to shake South Africa’s first ever mutual bank VBS. 53 individuals and companies are reportedly involved in this scandal, which has also ruined hundreds of thousands of customers, especially small savers.

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