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Govt acted improperly over report into Absa Bankorp matter

The Public Protector has found that government acted improperly by failing to act on the CIEX report.

Public Protector Busisiwe Mkhwebane. Picture: Kgothatso Mogale/EWN

PRETORIA – The Public Protector has found that Absa bank and its predecessor Bankorp unduly benefited from a Reserve Bank bail-out to the value of R1.125 billion and has ordered the Special Investigating Unit to recover the funds.

Advocate Busisiwe Mkhwebane made the announcement at a briefing in Pretoria on Monday where she revealed her findings in the so-called CIEX investigation.

The matter relates to funds misappropriated during the apartheid era and given as a lifeboat to Bankorp, which was…

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