HANDS OFF THE PUBLIC PROTECTOR, ADVOCATE BUSISISWE MKHWEBANE
ABSA MUST PAY BACK THE MONEY!
Date: Friday, 1 December 2017
The Umkhonto we Sizwe Military Veterans Association (MKMVA) has noted with dismay the persistent attacks that are being launched by White Monopoly Capital (WMC) - and the mainstream media that they own - on the Public Protector, Advocate Busiswe Mkhwebane, for her principled insistence that the matter of the 125 billion Rand ‘lifeboat’ that was borrowed to ABSA by the Reserve Bank needs to be addressed and that ABSA must pay the money back.
We agree with the findings of the Public Protector that the South African government breached its constitutional duty to spend public money wisely when it made no effort to act on the findings of the 1997-1999 CIEX Report, in which it was found that the Reserve Bank irregularly gave money to Bankorp – a predecessor to ABSA.
It is important to note that the findings of the CIEX Report had now been known to government for over a decade and yet the government, and specifically the Reserve Bank, took no action to recover this huge amount of money. There can be no doubt any more that this so-called ‘financial aid’ that was given to Bankorp was grossly irregular and in fact illegal.