Absa is not above the law - ANC

Date: Jun 21, 2017

The ruling ANC says ABSA Bank is not above the law. If the Bank benefited from the R1.1 billion Bankorp bailout, then it has to pay back the money.

The ANC has accused Public Protector Advocate Busisiwe Mkhwebane of overstepping her mandate. In her latest remedial action, Mkhwebane has recommended Parliament amend the Constitution to change the focus of the Reserve Bank's monetary policy. She says the protection of the rand's value should not be the primary objective of the Central Bank. 

The The But ANC says this is tantamount to Public Protector overreaching her powers. 

Speaking to Tsepiso Makwetla on PMLie, ANC spokesperson Zizi Kodwa says if there was any wrong doing from the side of Absa, then the law has to take its course. Kodwa says if the Banks has been found wanting, it has to pay back the R1.1 billion which was allegedly misappropriated the erstwhile Bankorp.  

LISTEN to full interview with Zizi Kodwa


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