Absa report: Rupert calls it fiction, Stals misquoted

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Richemont chairperson Johann Rupert. (Pic: Supplied)
Richemont chairperson Johann Rupert. (Pic: Supplied)

Cape Town – The public protector’s leaked interim report that recommends Absa pay back the South African Reserve Bank (Sarb) an outstanding interest of R1.225bn is being ripped apart by the seams.

The report was based on an investigation by UK company Ciex in 1997 which probed claims that the Bankorp group of banks, bought by Absa in 1992, had been offered R1.5bn under the guise of a bailout before the dawn of democracy.

Absa criticised the report for not taking into account the report by the Davis panel of experts in 2000 commissioned by former Sarb governor Tito Mboweni, which says Absa does not owe any more money.

There is a chance that the final report’s findings may still being changed, Public Protector Busisiwe Mkhwebane told Mail & Guardian, which broke the story last week after gaining access to the leaked report.  

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