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Vele Investments CEO reacts to allegations of misusing VBS money

PUBLISHED: Thu, 28 Jun 2018 10:53:13 GMT

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South Africa’s black owned VBS Mutual Bank is once again swimming in accusations, this time over allegations that its shareholders used the bank’s finances to pay for lavish lifestyles and keep companies linked to them like Vele Investments afloat with the bank’s capital without any returns. Joining CNBC Africa for a response on these allegations is Vele Investments CEO, Robert Madzonga.