ABSA

Absa to challenge Public Protector

Absa says Advocate Busisiwe Mkhwebane’s report is riddled with misconceptions and inaccuracies. The bank is taking it back to the High Court for review, saying her remedial action should be set aside. Officials say the report makes irrational and unreasonable legal conclusions, which have damaged the bank’s reputation. Mkhwebane recommended[…]

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Public Protector’s leaked report causes stir

The leaked report from the current Public Protector on the loan between Bankorp and the South African Reserve Bank has caused a stir. The deal dates back to 1985 when the Central bank bailed out Bankorp, which has since been acquired by ABSA. The leaked report recommends that ABSA pays[…]

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SACP calls for probe into apartheid state looting

The South African Communist Party (SACP) has called for a full investigation into the alleged looting of state coffers during the apartheid era. This follows the leaking of a preliminary Public Protector’s report. It contains recommendations that Absa Bank pay the Reserve Bank R2.25 billion. An investigation conducted in 1997[…]

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