Public Protector has had 'serious and detrimental effect' on economy, says Bank governor
'As long as it remains in place‚ it holds the risk of causing further rand depreciation‚ further ratings downgrades and further capital outflows'
28 June 2017 - 07:07
Governor of the SA Reserve Bank Lesetja Kganyago on Tuesday filed an urgent application in the North Gauteng High Court to set aside remedial action proposed by Public Protector Busisiwe Mkhwebane in her report on the Bankorp bailout. Earlier this month‚ Mkhwebane presented her findings regarding her investigation into the SA Reserve Bank’s assistance to Bankorp between 1985 and 1995. Absa acquired Bankorp in April 1992.
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 helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now