Absa slams Busi Mkhwebane’s Bankorp report as ‘irrational’
Public Protector Busi Mkhwebane’s report on the Bankorp lifeboat was "irrational" and cherry-picked from previous investigative reports, Absa said on Wednesday. Responding to the Absa/Bankorp findings, Barclays Africa’s South African arm said Mkhwebane’s office had "either effectively ignored or misunderstood Absa’s detailed submissions, which were made to it on two occasions". In her report released on Monday, Mkhwebane said that the government and the Reserve Bank had not protected the public interest by bailing out Bankorp between 1985 and 1991 and she referred the matter to the Special Investigating Unit to recover funds from Absa of R1.125bn. Absa met with its lawyers on Tuesday and instructed them to immediately approach the high court to review the report. "We will file papers as soon as they are ready," an Absa spokesman said. Cleopatra Mosana, Mkhwebane’s spokeswoman, said they were at liberty "to take the report on review. However, remedial action will have binding effect ...
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