Economic Freedom Fighters party leader Julius Malema has been accused of benefiting from the looted money. He denies it. Photograph: Jordi Matas

Seven suspects accused of looting nearly €140 million from a South African bank that mainly served the rural poor have pleaded not guilty in court to (...)

New South African minister for finance Tito Mboweni: set to announce government plans to deal with aftermath of financial scandal.  Photograph: Esa Alexander

An official probe into the failure of South Africa’s VBS Mutual Bank has alleged that €115 million (1.9 billion rand) was looted by 53 beneficiaries, (...)