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Here's The Founder Of VBS Mutual Bank That Got Looted

When the abbreviation "VBS" pulls up on social media, most South Africans usually associate it to corruption and rightfully so, because VBS Mutual Bank has indeed been looted by these rutheless hyenas posing themselves as leaders of the country.


Well believe it or not, before the catastrophe happened in VBS, it used to be one of the best mutual banks in the country to an extent that it even had plans to list on the Johannesburg Stock Exchange.

This mutual bank was founded in 1982 by Madambi Muvhulawa as a bank of people living in Venda. Mr Muvhulawa took the company from being a small fish in the pond to being(or atleast nearly being) banking being one of the most talked about mutual banks in the country that had a higher potential to go big and compete with the big dogs.

Believe it or not, If only had corruption never took place in VBS, the company would without no doubt be way up there in terms of success in the banking world but then again "could've" "should've" or "would've" DON'T APPLY IN THE REAL WORLD.

As of right now, the company is at risk of being liquidated because after what happened, no one would ever trust that bank again so the best option for it would be to liquidate it and pay people they owe.

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Wikipedia

https://en.m.wikipedia.org/wiki/VBS_Mutual_Bank

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Madambi Muvhulawa Muvhulawa South Africans VBS VBS Mutual Bank

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