Barclays Africa says it has co-operated with the probe into Bankorp saga
Barclays Africa Group says it has co-operated fully with the public protector’s investigation into the financial assistance Bankorp received from the South African Reserve Bank from 1985 to 1995 and will continue to do so. The bank was reacting to media reports on Friday regarding a provisional report by the public protector dealing in part with the saga. The Mail & Guardian newspaper reported that Absa, a unit of Barclays Africa Group, could be forced to pay R2.25bn to the state for an alleged unlawful apartheid-era bank bail-out if the preliminary report by the public protector remained unchanged. The newspaper, which stated that it had seen the damning preliminary report, said that in Public Protector Busisiwe Mkhwebane’s suggested remedial action she also proposed that the president should consider a commission of inquiry into apartheid-era looting of the state. "Mkhwebane has provisionally found that the government breached the Constitution and the Public Finance Management Act...
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