VBS Mutual Bank has been making headlines recently after it was announced billions of depositors' money disappeared.
As Briefly.co.za reported previously, a large part of this money went to funding the luxurious lifestyles of Vhavenda King Toni Mphephu Ramabulana and other executives. The R1.5 billion was municipal money invested in the bank - now it's gone.
Now, tweeps have reacted to the controversies surrounding the back and they suggested Jacob Zuma ‘loaned’ the money to pay back Nkandla from VBS.
“So, Zuma built Inkandla with our money, when he was forced to pay it back, he went to #VBS for a ‘loan’ And it turns out the VBS money is in fact still our taxes. The man used our money to pay us back. The joke is on us”, a tweep wrote.
The tweet sparked a debate amongst social media users, who gave their opinions on the matter that Zuma received money from the bank.
Vusi Sambo wrote, “But he servicing his mortgage mos. R65 000 per month over a period of 20years. He somewhat got himself an unlikely interest rate of 8% despite his horrible credit record.”
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