What little economic recovery SA may have been achieving in during the Covid-19 pandemic might already be faltering, if figures from Absa’s recent Purchasing Managers’ Index (PMI) are anything to go by. According to the report, the PMI…
The Constitutional Court said on Monday that public protector Busisiwe Mkhwebane’s conduct in the Bankorp-Absa bailout matter fell far short of the high standards required of her office. The majority of the Constitutional Court dismissed…
An Absa employee was found guilty on 359 charges of fraud after he transferred money from a client’s account to his brother’s. Moses Moroe was a sales consultant for the bank at its Loch Logan branch in the Free State. He was sentenced in…
The Economic Freedom Fighters have called on Public Protector Busisiwe Mkhwebane to resign after she backtracked on plans to square off with the Reserve Bank in court. Mkhwebane announced on Monday that she had reversed her decision after…
Absa said on Wednesday it would approach the high court to oppose a public protector report which found the bank liable to pay more than R1 billion related to a Reserve Bank bailout granted in the 1990s. The bailout was granted to…
Credit ratings agency Moody’s downgraded a slew of South African banks, insurers and local authorities yesterday because of the country’s worsening financial position. It slashed the creditworthiness of the five biggest banks – FirstRand,…
