In a country where every industry is owned by whites, VBS Mutual Bank, which gave President Jacob Zuma the loan to pay for the non-security features on Nkandla, offers Black South Africans the opportunity to BANK BLACK.
It is black-owned and it is the answer to breaking the monopoly stranglehold of the four big banks; ABSA, NEDBANK, Standard Bank and First National Bank.
Banking BLACK means the money circulates among Blacks and builds wealth for Blacks, for a change.
In a country where the liberal media and self-hating Blacks associate Black with corruption, daggers are already out for this bank. At issue for now, is the Public Investment Corporation’s (PIC) stake in VBS. What these liberals conveniently forget is that PIC invests in all the banks through the Treasury. This bank can expect vicious attacks from the South African media hence it’s important for Blacks to give this financial institution support by banking with it.
There’s a movement in the US encouraging African Americans to put their money in black-owned banks following the numerous high profile police killings in that country. The Black Dollar Matters follows the theme of Blacks Lives Matter.
And the financial institutions in the US say they’ve seen a surge in deposits.
VBS Bank could the saviour we’ve been waiting for.