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...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now