banks Archives - Voice of the Cape

Banks face R1.5bn bill for ATMs and branches attacked by looters

Damage to banks and ATMs during July's violence and looting will cost up to R1.5bn to repair, the Banking Association SA (Basa) said on Saturday. Banks are still working on infrastructure recovery plans in Gauteng and KwaZulu-Natal, the association said in a statement, adding that 1,400 ATMs and 269 bank branches were vandalised or destroyed. “An indicative average replacement cost of an ATM in SA is R385,000, with additional installation […]

8 August 2021

International News

Banks targeted in Lebanon’s ‘night of the Molotov’

At least a dozen Lebanese banks across the country were torched and vandalised early Wednesday during the second consecutive night of angry protests fuelled by frustration over the national currency's unfettered depreciation. Hundreds of demonstrators took to the streets and dozens were arrested by security forces. The largest and most violent protests took place in the northern city of Tripoli - Lebanon's second-largest, and poorest, city, after protester Fouaz al-Semaan […]

29 April 2020

International News

Kenya to investigate 10 banks on suspicion of handling stolen funds

Kenyan authorities will investigate 10 financial institutions suspected of handling funds that were stolen from the government’s National Youth Service (NYS), the Daily Nation newspaper reported on Thursday. Dozens of senior officials and business people have been taken into custody and face charges related to the theft of nearly $100 million from the youth agency. The Daily Nation named nine commercial banks and a financial co-operative society as the institutions […]

31 May 2018

Local

Tensions boil over on land reform issue

The ANC has adopted a resolution calling for the nationalisation of the Reserve Bank and land expropriation without compensation. It has set no timeline to acquire all shares in the bank or change the constitution to trigger nationalisation, which would see the government owning 100% of the bank’s shares instead of the existing arrangement where these are held by a number of private shareholders. In his maiden address at the […]

21 December 2017

Local

Post Office, banks to deliver grants in hybrid model

The South African Post Office will handle core functions of a new social grants system, while commercial banks will play an increased, direct role for more than 2 million beneficiaries. The inter-ministerial committee on social security, headed by Minister Jeff Radebe, announced on Sunday that a "landmark" deal had been signed with SAPO to handle core functions of a new system. The deal was signed on Friday, December 8, and […]

10 December 2017

Local

Judgment expected in Gupta court bid to halt bank account closure

The Pretoria High Court will on Thursday hand down judgment in an urgent application for an interdict brought by 20 Gupta family companies to halt the closure of their last remaining bank accounts in South Africa. The application is for interim relief to stop the Bank of Baroda from closing the family’s business and loan accounts at the end of September. The family wants the court to grant an interdict […]

21 September 2017

Local

SA’s biggest banks want in on Sassa distribution

Three of South Africa’s biggest banks are considering bidding to distribute government welfare payments to more than 17 million people. This as a contract with a subsidiary of welfare grant distributor Net 1 UEPS Technologies comes to an end, after years of legal battles. The existing contract earned Net 1 about R2 billion a year, its annual reports show. Barclays Africa, Nedbank and a unit of FirstRand are contemplating bids, […]

29 January 2017

banks

Banks face R1.5bn bill for ATMs and branches attacked by looters

Banks targeted in Lebanon’s ‘night of the Molotov’

Kenya to investigate 10 banks on suspicion of handling stolen funds

Tensions boil over on land reform issue

Post Office, banks to deliver grants in hybrid model

Judgment expected in Gupta court bid to halt bank account closure

SA’s biggest banks want in on Sassa distribution

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