for subscribers

Zuma’s Nkandla loan bank signs on mega church

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
President Jacob Zuma (File, AP)
President Jacob Zuma (File, AP)

Johannesburg - VBS Mutual Bank, which shot to fame after giving President Jacob Zuma a loan for his Nkandla homestead, has inked a new deal with a cross-continental church as it eyes bigger business.

VBS has signed a deal with one of the country’s biggest churches, Twelve Apostle Church in Christ (TACC), to be their official banker. The church claims to have 6.8 million members.

READ: This is the bank helping Zuma to 'pay back the money'

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
16.65
(+1.62)
ZAR/GBP
21.53
(+1.13)
ZAR/EUR
19.55
(+1.63)
ZAR/AUD
11.93
(+1.32)
ZAR/JPY
0.16
(+1.43)
Gold
1900.11
(+0.19)
Silver
23.91
(-1.28)
Platinum
899.98
(+2.18)
Brent Crude
41.31
(-3.06)
Palladium
2333.99
(+1.70)
All Share
54264.96
(-0.44)
Top 40
50042.44
(-0.55)
Financial 15
10071.85
(+0.68)
Industrial 25
73187.40
(-0.23)
Resource 10
53383.39
(-1.24)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1396 votes
It depends on how the funds are used.
73% - 9031 votes
No. We should have gotten the loan elsewhere.
16% - 1992 votes
Vote