Another bank ditches Guptas

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A fifth South African bank has closed the accounts of the controversial Gupta family.

The Venda Building Society (VBS) Mutual Bank is the latest to decline to do business with the Guptas, closing two of the family’s accounts.

VBS is the same bank that granted President Jacob Zuma a loan of R7.8m so that he could repay the state for his portion of the bill for security upgrades to his Nkandla home, as ordered by former Public Protector Thuli Madonsela.

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