An eyewitness account indicates that a Limpopo mother who invested R600 000 in the collapsed VBS Mutual Bank has only received R100 000 of her savings and is so traumatised by the thought of losing the remaining R500 000 that she is suffering memory loss and depression.
Tshinyalani Elisa Mudau’s children now fear she may even lose her life due to her constant worrying about her investment.
When she started banking with the bank in 1993, Mudau’s desire was to save enough money so all her children would not have to apply for bursaries at tertiary level. She managed to save a whopping R600 000.
Mudau, 59, from Tshiulungoma village outside Thohoyandou, said she heard news of the bank’s liquidation on radio last week while at work at the Thulamela municipality. She was so devastated she immediately lost her composure.
It is not immediately clear whether or not hse will get a reprieve.