When VBS Mutual Bank was founded in the 1980s, it was a beacon of hope for social mobility for the mostly rural communities of Limpopo. By the early 1990s, the cooperative financial institution, or stokvel, owned by its depositors and customers, enabled depositors access to bonds for homes and dignified funerals for loved ones. However, by mid-2010, VBS had become a playground for corruption and looting.
While over 30 arrests have been made and the former chairperson, Tshifhiwa Matodzi, has been convicted and sentenced - depositors in Thoyandou told Newzroom Afrika's Ntokozo Khumalo that they are yet to see justice.
Tune into Newzroom Afrika DStv channel 405 for more.
Негізгі бет VBS depositors yet to see justice
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