Absa takes Busisiwe Mkhwebane’s directive on Bankorp to the high court
Mkhwebane’s remedy that R1.125bn be recovered after purchase rests on ‘material errors of fact’, Ramos says in high court papers
Absa CEO Maria Ramos has taken on Public Protector Busisiwe Mkhwebane, attacking her controversial report into the Bankorp lifeboat in a 78-page affidavit filed in the High Court in Pretoria on Thursday. The remedial action prescribed by Mkhwebane, that the Special Investigating Unit should recover R1.125bn from Absa for apartheid-era assistance to Bankorp, which Absa bought, rested on “material errors of fact”, Ramos said in the papers. “We look forward to this case being brought to court. The years of baseless accusations have been unfair and prejudicial to Absa,” Ramos said. Pressure is mounting on Mkhwebane, who this week backtracked on a proposal, in the same report, to change the Reserve Bank’s constitutional mandate. The Bank, Treasury and Parliament all launched court applications opposing the recommendation as unconstitutional. The Treasury has also applied to have Mkhwebane’s findings about Absa set aside, saying she had disregarded the evidence before her. These sentiment...
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