Public Protector Busisiwe Mkhwebane's final Absa report also guns for Reserve Bank
Public Protector Busisiwe Mkhwebane wants the government to recover public funds unlawfully given to Absa Bank to the tune of R1.125bn, based on the controversial Ciex report. Absa reiterated on Monday that it believed it had met all its obligations in relation to the Bankopr purchase, and said it was considering legal action. Mkhwebane also wants the Constitution to be amended to ensure the mandate of the Reserve Bank does not favour big banks but also takes into account the citizens of the country. The recommendation on the Reserve Bank is likely to be viewed as an attack on the bank in political circles. Addressing the media in Pretoria on Monday, Mkhwebane said she found the government had failed to act on the Ciex report after paying £600,000 for it. This was inconsistent with its duties and amounted to improper conduct and maladministration. She said allegations that the government and the Reserve Bank improperly failed to recover from Bankorp and Absa an amount of R3.2bn, cit...
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