A good week
The corner (home) office may have been a baptism of fire for Absa CEO Daniel Mminele, but the fact is that shares in the bank — a market laggard for ages — were the best-performing among its banking peers this past year, notwithstanding the horrors of Covid. Keeping the second-half headline earnings decline to 19% is no mean feat. However, unlike its peers Standard Bank and FirstRand, Absa has clutched onto its reserves and shareholders won’t be getting a dividend. More’s the pity.
A bad week
Wringing your hands and bemoaning the lack of "consequence" for corruption might work fine on social media, but when you’ve been a minister for two decades, with the power to influence the government, you probably have to admit you’re part of the problem. But Lindiwe Sisulu has never been a great one for accountability. Why hasn’t she told the people in her party to sort matters out, rather than slamming the Zondo commission, which has done far more than she has to ensure consequence?
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