Scopa to probe graft allegations at DBSA
Three Development Bank of Southern Africa loans to three entities owned by Cranbrook Property Projects under scrutiny
Parliament’s finance watchdog, the standing committee on public accounts (Scopa), has resolved to hold an inquiry into allegations of corruption, fraud and maladministration at the Development Bank of Southern Africa (DBSA).
The state-owned bank, which specialises in development loans, has been rocked by allegations raised in parliament late in 2020 by UDM leader Bantu Holomisa. The bank has also been under strain after reporting that profits fell more than three-quarters in its year to end-March 2020, as the adverse effects of the pandemic forced it to raise provisions against loans likely to come under pressure...