Absa attacks Mkhwebane as it files for review

Absa bank has attacked Public Protector Busisiwe Mkhwebane’s juristiction as it filed its application to review Mkhwebane’s report on an apartheid-era bailout.

Last month, Mkhwebane released a report in which she recommended that the Special Investigating Unit recover more than a billion rand from Absa.

The funds were given to Bankorp, which was later purchased by Absa.

EWN reported that Absa CEO Maria Ramos attacked the Public Protector’s jurisdiction and said the office may not investigate matters that occurred before the Public Protector Act came into effect.

She said the remedial action was imposed without procedural fairness as Mkhwebane’s office did not show critical documents to the bank.

These documents, Ramos argues, formed the basis of her findings against Absa.

She said Mkhwebane’s remedial action rested upon material errors of fact and law.

The bank reiterated that it would not pay a cent as there was no debt owed by Absa.

“We look forward to this case being brought to court. The years of baseless accusations have been unfair and prejudicial to Absa. Because the business of the courts is conducted in the open‚ South Africans will get an opportunity to hear the facts and watch them being interrogated‚ in order for this matter to be put to rest,” the bank said in a statement.