Tag: ABSA

Public Protector in-talks with Reserve Bank on her ‘remedial action’
Breaking News Parliament Public Protector South Africa

Public Protector in-talks with Reserve Bank on her ‘remedial action’

According to reports, the Public Protector Advocate Busisiwe Mkhwebane has began the talks with the South African Reserve Bank on her remedial action for the National Assembly to change the central bank’s mandate, a proposal that has drawn sharp criticism from political parties and investors. Adv Mkhwebane’s recommended to alter the Reserve Bank’s principal constitutional […]

ABSA must ‘pay-back’ the apartheid money! – Public Protector
Banks Breaking News Business Public Protector South Africa

ABSA must ‘pay-back’ the apartheid money! – Public Protector

According to the Public Protector Adv Busisiwe Mkhwebane ABSA (Barclays Africa Group ) unduly benefited from the apartheid-era loan bailouts and must repay 1.125 billion rand and the Special Investigating Unit is tasked with the mission to collect all the money back into government. The bank denied any wrongdoing but still no comment from SANLAM […]

Moody’s downgrades Standard Bank, FirstRand, Absa…
Banks Breaking News Business South Africa

Moody’s downgrades Standard Bank, FirstRand, Absa…

Global ratings agency Moody’s has downgraded the credit ratings of South Africa’s top five banks and three development finance institutions. Moody’s said the downgrade is due to the weakening of the South African government’s credit profile” following the country’s investment grade downgrade. The five banks downgraded are Standard Bank, FirstRand, Absa, Nedbank and Investec   […]

Zuma delays recovery of ‘Public Funds from ABSA’
Breaking News Business

Zuma delays recovery of ‘Public Funds from ABSA’

Adv Busisiwe Mkhwebane waiting for President Jacob Zuma’s blessing to Implement CIEX Report and Recover Public Funds from ABSA Mega-bank Absa could be forced to pay R2.25‑billion to the fiscus for an unlawful apartheid-era bank bailout if a preliminary report by the public protector gets a blessing from President Jacob Zuma. President Zuma has been […]