A Limpopo businessman who invested more than one million rand in the defunct VBS Mutual Bank says he had to retrench 16 workers after the bank was closed.

Aubrey Mulaudzi’s motor industry business in Thohoyandou is one of 621 retail depositors who stand to benefit from the liquidation process of companies linked to the VBS collapse.

“We really had to suffer because you cannot pay your debt. You owing people and people cannot supply you with spares and goods that means you get affected badly. We retrenched more than twelve because we  had 28 workers, we are left with twelve people.”

Mulaudzi has urged other depositors not to lose hope of ever getting some of their money back.

“Lets not lose hope. After we have learnt that there are some companies which are also liquidated, that brings hope that maybe the liquidator will help us get our money that we invested in VBS.”