Any undue benefits received by ABSA must be repaid

17 January 2017

Following on the recently leaked report on the Public Protector, Adv. Busisiwe Mkhwebane’s, investigation into undue pecuniary benefits allegedly received by ABSA bank from the apartheid government, the IFP remains of the view that the investigation must be allowed to follow its full course and that once concluded, the recommendations of the Public Protector be implemented in respect of any wrongdoing that may have been found to have occurred.

Whilst it is noted that ABSA is currently a target of political attack from certain quarters of the political elite, and that the timing of this ‘leaked’ report is opportune in respect of political ‘payback’, it must also be noted that during the transition from apartheid to democracy, state coffers were looted and many question marks remain in that respect. The IFP is of the view that a full audit of payments made by treasury during that time is necessary and any such transactions found to have been of the nature of ‘undue benefit’ must be repatriated to the state coffers.

The IFP will continue to monitor developments in this matter closely and look forward to the Public Protector’s final report.

Issued by Mkhuleko Hlengwa, IFP Spokesperson on Finance & Public Accounts, 17 January 2017