YWBN given 21 days to pay back investors

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The tribunal said YWBN is non-compliant with various sections of the Co-operatives Act and contravenes section 99 of the act. AnElectricLady

Veli Nhlapo

The incoming mutual bank to be headed by Nthabeleng Likotsi opened up its share scheme to the public in June where shares were going for as little as R10. Public protector Adv Busi Mkhwebane announced she had bought shares as well as one person buying shares worth R100,000. The directive compels Likotsi and YWBN to secure professional legal, accounting and auditing services to help them comply with regulations .It is unclear how much money has been raised but Liktosi had previously said they were aiming for R5bn, with R2.2bn to be raised by the public and R2.8bn from institutions.

 

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This is sad. It was a beautiful dream.

I was hoping that her dream would ndeed come true. My biggest concern was the sight of the dodgy characters that stood around her during official launch of the bank. To be surrounded by well known thieves is problematic. I knew then that this was not going anywhere.

'WMC is jealous'

Eish💔

Geu geu...

Yho kubi ke sisi 💔

Izinj' azilali. Zok'nqanda kuma technicalities. Imigodoyi. Pusha sisi MissNthabeleng

Oh yhini uNthabeleng nkosi yam, sisono. Her heart was in the right place.

AnElectricLady Imran Khan has failed to fulfil his promises to the people of Pakistan, yet he has not accepted his failures in public or admitted to his Government’s mistakes. The sooner PMIK steps down the less people of Pakistan will suffer – Jan 2021, Muhammad Qasim Dreams

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