The South African Society of Bank Officials (Sasbo) says its planned banking strike on Friday, September 27, will see a total shutdown of all banking services, including ATMs.
Co-operative Governance and Traditional Affairs Minister Zweli Mkhize says despite the unfortunate situation regarding VBS Mutual Bank, many more black-owned financial institutions are needed if economic transformation is to be achieved.
The suspects were found in possession of four hijacked vehicles, two of which were apparently used in a heist outside a Capitec Bank branch in Dobsonville, Soweto at the beginning of this July.
The South African economy is improving but its recovery remains below that of other emerging markets.
Banks have warned that the expropriation of land without compensation would result in the collapse of some financial institutions