Public Investment Corporation to assist VBS Mutual Bank

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The Public Investment Corporation (PIC) has noted the decision of the South African Reserve Bank to place VBS Mutual Bank (VBS) under curatorship after it experienced liquidity challenges.

The PIC, on behalf of the Government Employees Pension Fund, is one of the shareholders in VBS, holding approximately 27% equity interest of the mutual bank.

The PIC will work closely with the appointed curator, Sizwe NtsalubaGobodo and all other stakeholders, to assist the bank to navigate through this difficult situation and hopefully emerge much stronger.

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Thabo Mphahlele is the BizNis Africa Head of Sales and Marketing. Mphahlele was previously MultiChoice Production Support Analyst responsible for developing and monitoring applications. In addition, Mphahlele develops and automates batch scripts and is responsible for the daily infrastructure maintenance at MultiChoice. As a Production Support Analyst, he is responsible for incident analysis solving , developing and constructing business reports for SQL and Oracle and implement change controls for the business. Additional responsibility includes monitoring system performance via SOA, Kibaba (Elasticsearch), H.P BSM, HP Sitescope. Mphahlele is responsible for creating infrastructure performance reports through HP Ops Analytics, monitoring payments via Splunk and in-house built-in tool and disaster recovery simulation and testing. At Nashua Mobile, he was responsible for application development and enhancing the web sites At South West Gauteng College, he was the IT Technician and Network Administrator. During his tenure at Double Digit Media, he was he focused on application and web site development for new and existing clients Mphahlele contributes as a Content Manager for BizNis Africa.

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