Barclays Africa must repay R1.1bn over bailouts

On Sunday, DA MP and justice spokesperson Glynnis Breytenbach said that with the flurry of reports uncovering state capture, it was more important than ever for the public protector to investigate and report without fear or favour.

In a statement, Absa said, "The Provisional Report does not address at all the fact that Absa paid fair value when it acquired Bankorp, which value was calculated to take into account the South African Reserve Bank (SARB) assistance i.e. Absa paid for the SARB assistance to Bankorp and did not benefit therefrom. Moreover, we deny any debt is due or payable by ABSA".

Mkhwebane added that the South African populace had been prejudiced by government's failure to recoup those huge sums of money.

But Mkhwebane announced the figure for the bailouts in closer to R1,125 billion - and that is how much she wants the financial institution to pay back.

"Dealing with alleged stolen state funds after commissioning and paying the same, whether the South African government failed to improperly implement the report is substantiated".

The Public Protector said the Reserve Bank must fully cooperate with the SIU and also assist it in recovering the funds.

The Public Protector says the funds given to Bankorp belonged to the people of South Africa.

Mkhwebane announced on Wednesday that she would conduct a preliminary investigation to determine the merits of some of the allegations that have been published as part of the #GuptaLeaks saga that point to issues at Eskom, Prasa and Transnet.

Mkhweban said Ciex was paid 600 000 British pounds for services which were never used by government.

She has referred the matter to the special investigation unit to recover an amount of R1.1 billion.

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