SARS 2026/2027LIVERepo Rate7.50%Prime Rate11.50%USD/ZAR~18.40VAT Rate15%UIF CeilingR17,712Tax ThresholdR99,000SARS 2026/2027LIVERepo Rate7.50%Prime Rate11.50%USD/ZAR~18.40VAT Rate15%UIF CeilingR17,712Tax ThresholdR99,000
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Home›Corruption Tracker›VBS Mutual Bank Looting
Limpopo · SA Corruption Asset Tracker

VBS Mutual Bank Looting

Under InvestigationR2 billionHigh confidence

VBS Mutual Bank Looting is an active investigation in Limpopo, with an estimated R2 billion in assets linked to the matter. It ranks among the largest documented cases on this tracker by rand value. The matter relates to the VBS Mutual Bank — Multiple municipalities. 4 individuals have been formally implicated through official proceedings, including Tshifhiwa Matodzi, Phophi Mukhodobwane, Brian Shivambu and 1 others.

Case details

R2 billion looted from VBS Mutual Bank through fraudulent deposits by municipalities and systematic theft by insiders and politicians. Over 50 individuals implicated in the Great Bank Heist.

AssetsMultiple luxury properties, vehicles and business assets linked to VBS looters
Department / entityVBS Mutual Bank — Multiple municipalities
Estimated valueR2 billion
StatusUnder Investigation
Court orderMultiple AFU preservation and forfeiture orders
Date reported10 October 2018
LocationLimpopo and Gauteng, Limpopo

Implicated (4)

Tshifhiwa MatodziPhophi MukhodobwaneBrian ShivambuFloyd Shivambu

Source — AFU

Reported 10 October 2018

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Sourced exclusively from official public records (SIU, AFU, NPA, Hawks, Zondo Commission). This tracker does not make independent allegations; individuals listed have been formally implicated through legal proceedings or official investigations. Updated manually — may not reflect the latest case developments.