Barclays Africa must repay 1.1 billion rand over bailouts

19 Juin, 2017, 18:30 | Author: Marc Bacque
  • Barclays Africa must repay 1.1 billion rand over bailouts

The public protector said she is not politically motivated or "captured". We will work side-by-side with the Public Protector.

Absa has noted the Public Protector's statement today regarding her investigation into the SA Reserve Bank's assistance to Bankorp between 1985 and 1995. "This was accepted by the Davis Panel".

"Absa did not make a provision in its accounts for the repayment of the interest on the SARB loan to Bankorp because no such liability to repay interest existed", they said.

Aside from the #GuptaLeaks, the investigation will also look at the controversial re-appointment of Brian Molefe as head of Eskom.

Absa stated, "the remedies proposed in the Provisional Report are neither practically feasible nor legally competent". In particular, the recovery of any debt allegedly due (which is denied) has long ago prescribed in law.

She found that the bank and its predecessor Bankorp unduly benefitted from a R1.125 billion bailout from the Reserve Bank. "Failure to recover the "gift" resulted in prejudice to the people of South Africa as the funds could have benefited the broader society instead of a handful of shareholders of Bankrop/ABSA Bank".

Adopted Dads Are REAL Dads - I Know This Because Mine Definitely Is
With Canada's blood supply at critically low levels, I think the best way to celebrate my father would be to donate blood. Let's celebrate the day and honours dads all across the world for their superhuman qualities and overpowering love .


Letters - PRI Response To US Withdrawal From Climate Agreement
Far from following the US move backward, other countries are moving ahead even more rapidly with clean energy innovation. The rally comes a week after the Trump administration announced the USA would withdraw from the accord.


La Porsche de tête immobilisée — Heures du Mans
Du coup, c'est une LMP2, l'Oreca n°38 de Jackie Chan Racing, qui a pris la tête des opérations à midi. Je me suis concentré sur la mission de ramener la voiture à bon port pour mes équipiers".


Mkhwebane says the funds where unlawfully given to Bankorp by the Reserve Bank.

She says the conduct was contrary to the Constitution.

Public Protector Busisiwe Mkhwebane has ordered the Special Investigating Unit (SIU) to recover more than R1 billion from Absa paid as a bailout in the apartheid era.

"Dealing with alleged stolen state funds after commissioning and paying the same, whether the South African government failed to improperly implement the report is substantiated".

Mkhweban said Ciex was paid 600 000 British pounds for services which were never used by government.

Conseillé:

  • Russia warns US after downing of Syrian jet

    Russia warns US after downing of Syrian jet

    Assad, Russia, and Iran maneuver for control and influence in territory reclaimed from ISIS in eastern Syria . F-15 fighter jet shot down an Iranian-made drone after it fired on partnered ground forces in southern Syria.
    Amarillo Gas Prices Fall Under $2/g Average

    Amarillo Gas Prices Fall Under $2/g Average

    Hartford- $2.40/g, down 3.8 cents per gallon from last week's $2.44/g. That's about 6 cents less than one year ago at this time. Motor club AAA puts the price at the same level.

    Trump Terminates DAPA Program Leaving 5 Milion Undocummented Inmigrants Without Protection

    The protection can be revoked at any time , and some young immigrants have lost DACA protections after being arrested for crimes. On Thursday, Kelly endorsed the news according to which Trump administration is shutting down protection for immigrant parents.
  • Le Grand Prix de France fixé au 24 juin 2018 au Castellet

    Le Grand Prix de France fixé au 24 juin 2018 au Castellet

    La France retrouve donc sa place dans le calendrier du championnat du monde de Formule 1, place qu'elle avait perdue depuis dix ans.

    Dem 'concerned' Trump will fire investigators

    Peter Carr, a spokesman for Mueller, told AFP he now has "13 attorneys on board, with several more in the pipeline". There has been no indication that Mueller told Trump to fire Comey.
    Rob Kardashian's daughter can sit up alone

    Rob Kardashian's daughter can sit up alone

    The Keeping Up With The Kardashian's star posted an adorable photo of Dream wearing a Minnie Mouse hat. Last night, Chyna posted up pics of herself alongside Rob and Dream .
  • Ryan Seacrest's American Idol contract close to being signed

    Ryan Seacrest's American Idol contract close to being signed

    For those wondering about the status of Ryan Seacret's American Idol contract, know that it is nearly now officially signed. In addition, Ryan Seacrest is said to be in final discussions to return as host of the show.
    Ashford (AINC) Given Daily News Sentiment Score of 0.20

    Ashford (AINC) Given Daily News Sentiment Score of 0.20

    Canaccord Genuity reiterated a "hold" rating on shares of Ashford Hospitality Trust in a report on Friday, May 19th. Finally, DA Davidson assumed coverage on shares of Ashford Hospitality Trust in a report on Wednesday, March 22nd.

    Dog injured after shots fired at Halifax home

    He told police seven teens surrounded him and asked for cigarettes and then one of them, a male, stabbed him with a knife. The people were not injured but a dog was grazed by a bullet.
  • Death toll in London tower block fire rises to 79

    Death toll in London tower block fire rises to 79

    Holding back tears, the experienced police officer said it had been incredibly emotional working in the tower, which used to be home to between 400 and 600 residents.
    Wall St opens higher as tech stocks bounce back

    Wall St opens higher as tech stocks bounce back

    Retail stocks were battered on Friday after Amazon .com's $13.7 billion deal to buy upscale grocer Whole Foods. Oil prices edged higher, after coming under pressure over the past month from rising production.
    Amid stir, farmers' market in Mandsaur grinds to a halt

    Amid stir, farmers' market in Mandsaur grinds to a halt

    State Ministers and the kin of peasants killed in police firing earlier urged the Chief Minister to end his fast. Police tried to stop the Congress leaders from going to the area, saying there was a curfew in Mandsaur .


Populaire

Murray hoping to make the most of last few competitions
As well as the Murray-Bedene first round match, there is plenty of British interest throughout the 32-man draw. The top-ranked will begin his Aegon Championship campaign against fellow countryman Aljaz Bedene .

79 now believed to have died in London high-rise fire
Anger is rising against British authorities over safety failings and a widely perceived slow release of information. The deadly blaze has turned into a political crisis, testing the fragile government of Prime Minister Theresa May .

Sixers about to acquire No. 1 overall pick
The Sixers had eyes wide open Saturday and Embiid was one of the more enthusiastic observers at Fultz's workout. Fultz reportedly looked good in his workout but did not shoot well missing 14 of the 18 three pointers he took.

Jay-Z de retour le 30 juin avec un nouvel album
Une vidéo avec les mêmes plans avait été révélée il y a quelque semaines. En France, le LP sera uniquement disponible à l'écoute sur Tidal .

Agression de Nathalie Kosciusko-Morizet : un maire interpellé
Nathalie Kosciusko-Morizet avait été agressée jeudi 15 juin , à Paris, en pleine campagne électorale des élections législatives . Revenue à elle, elle avait été conduite, pour subir des examens, à l'hôpital Cochin.

Clovis Oncology's cancer drug Rubraca succeeds in key study
Guggenheim Capital LLC acquired a new stake in Clovis Oncology during the fourth quarter valued at approximately $2,824,000. The business had revenue of $7.05 million during the quarter, compared to analysts' expectations of $6.04 million.

UK police arrest man at station, say no terror link
Officers were scrambled to the scene near to the junction with Praed Street following reports of a man acting suspiciously. Dramatic images from the scene showed a man being restrained by police outside Paddington station on Monday.

Trump's attorney contradicts himself on investigation denial
But Mr Comey also testified that to his knowledge the president had not tried to stop the Russian Federation investigation. But a source close to the President told CNN's Jim Acosta that Trump has been advised to avoid such a dramatic move.

John Oliver Digs Into Trump's Empty Rhetoric On Reviving The Coal Industry
Nutterbutter who took out a massive check for "three acorns and eighteen cents" for Murray if he plans on suing the show. Throughout his campaign, President Trump repeatedly promised coal miners he would preserve their jobs.

DFAgganis: LCD Soundsystem detail new LP, announce North American tour
As SPIN notes , American Dream will feature 10 songs, including recent releases " American Dream " and " Call the Police ". LCD Soundsystem will headline on September 16th and 17th, representing the group's first Manchester shows since 2010.