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Al Azhar High School eco-club plants 100 trees in collaboration with FTFA, ABSA

By Aneeqa du Plessis Despite the gloomy weather experienced across the Mother City today, Al Azhar High School’s eco-club was in high spirits, the group spent the better part of the morning planting 100 trees around the institution. The fruit and indigenous trees were provided by Food & Trees for Africa (FTFA) in collaboration with ABSA Bank. Speaking to VOC News between the crops, Head of the eco-club and Mathematics […]

today10 May 2024

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Absa to challenge Public Protector

Absa says Advocate Busisiwe Mkhwebane's report is riddled with misconceptions and inaccuracies. The bank is taking it back to the High Court for review, saying her remedial action should be set aside. Officials say the report makes irrational and unreasonable legal conclusions, which have damaged the bank's reputation. Mkhwebane recommended that Absa pay over a billion rand in interest from a loan to its predecessor, Bankorp. The bank says it […]

today21 June 2017

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Public Protector’s leaked report causes stir

The leaked report from the current Public Protector on the loan between Bankorp and the South African Reserve Bank has caused a stir. The deal dates back to 1985 when the Central bank bailed out Bankorp, which has since been acquired by ABSA. The leaked report recommends that ABSA pays back a sum of R2, 2 billion. In 2002, a panel that was appointed to investigate the Reserve Bank's role, […]

today18 January 2017

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SACP calls for probe into apartheid state looting

The South African Communist Party (SACP) has called for a full investigation into the alleged looting of state coffers during the apartheid era. This follows the leaking of a preliminary Public Protector’s report. It contains recommendations that Absa Bank pay the Reserve Bank R2.25 billion. An investigation conducted in 1997 by a UK-based asset recovery agency, CIEX, apparently suggested to the Reserve Bank that it should recover billions from Bankorp […]

today17 January 2017

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Absa decries leak of public protector report on apartheid billions

Absa said a preliminary report by Public Protector Busisiwe Mkhwebane that recommends the bank pay back R2.25bn it received as part of an unlawful apartheid-era bailout is “regrettable”. The bank said that the Davis Panel of experts appointed by former South African Reserve Bank (Sarb) governor Tito Mboweni in 2000 found that Absa’s shareholders did not derive any undue benefit from the Sarb’s intervention, and as such no claim of […]

today14 January 2017

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