Public protector Busi Mkhwebane may choose not to oppose the Reserve Bank's and Absa's applications to set aside her remedial action for the central bank's alleged failure to recover an apartheid-era lifeline to Bankorp. "The public protector perused the ... application and will meet the legal team and decide on whether to oppose," said Cleopatra Mosana, Mkhwebane's spokesperson. This week, the Reserve Bank brought an urgent application to review and set aside Mkhwebane's remedial action, in which she directed parliament to initiate a process to amend the constitution to change the bank's currency-protection mandate - which it conducts through inflation targeting - to one that protects the socioeconomic wellbeing of all citizens.Mkhwebane directed Absa to pay back more than R1-billion that Bankorp, bought by Absa in 1992, received in assistance from the central bank.On Friday, Absa CEO Maria Ramos lent her voice to the Reserve Bank's application, saying Mkhwebane had unlawfully ta...
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