20°C / 22°C
  • Sun
  • 19°C
  • 12°C
  • Mon
  • 24°C
  • 11°C
  • Tue
  • 27°C
  • 12°C
  • Wed
  • 26°C
  • 13°C
  • Thu
  • 25°C
  • 12°C
  • Fri
  • 29°C
  • 13°C
  • Sun
  • 24°C
  • 13°C
  • Mon
  • 22°C
  • 14°C
  • Tue
  • 22°C
  • 15°C
  • Wed
  • 25°C
  • 14°C
  • Thu
  • 26°C
  • 15°C
  • Fri
  • 21°C
  • 15°C
  • Sun
  • 21°C
  • 14°C
  • Mon
  • 26°C
  • 13°C
  • Tue
  • 29°C
  • 14°C
  • Wed
  • 29°C
  • 15°C
  • Thu
  • 27°C
  • 14°C
  • Fri
  • 30°C
  • 15°C
  • Sun
  • 23°C
  • 15°C
  • Mon
  • 27°C
  • 13°C
  • Tue
  • 30°C
  • 14°C
  • Wed
  • 30°C
  • 12°C
  • Thu
  • 29°C
  • 13°C
  • Fri
  • 31°C
  • 13°C
  • Sun
  • 22°C
  • 17°C
  • Mon
  • 26°C
  • 19°C
  • Tue
  • 25°C
  • 21°C
  • Wed
  • 24°C
  • 20°C
  • Thu
  • 27°C
  • 20°C
  • Fri
  • 28°C
  • 21°C
  • Sun
  • 21°C
  • 13°C
  • Mon
  • 20°C
  • 15°C
  • Tue
  • 20°C
  • 13°C
  • Wed
  • 20°C
  • 13°C
  • Thu
  • 23°C
  • 15°C
  • Fri
  • 21°C
  • 17°C
  • Sun
  • 28°C
  • 13°C
  • Mon
  • 23°C
  • 13°C
  • Tue
  • 26°C
  • 13°C
  • Wed
  • 29°C
  • 12°C
  • Thu
  • 32°C
  • 16°C
  • Fri
  • 25°C
  • 13°C
  • Sun
  • 21°C
  • 14°C
  • Mon
  • 20°C
  • 14°C
  • Tue
  • 21°C
  • 15°C
  • Wed
  • 23°C
  • 14°C
  • Thu
  • 24°C
  • 15°C
  • Fri
  • 22°C
  • 15°C
  • Sun
  • 23°C
  • 15°C
  • Mon
  • 27°C
  • 13°C
  • Tue
  • 29°C
  • 14°C
  • Wed
  • 30°C
  • 14°C
  • Thu
  • 28°C
  • 15°C
  • Fri
  • 30°C
  • 15°C
  • Sun
  • 26°C
  • 11°C
  • Mon
  • 29°C
  • 10°C
  • Tue
  • 29°C
  • 13°C
  • Wed
  • 30°C
  • 10°C
  • Thu
  • 32°C
  • 11°C
  • Fri
  • 32°C
  • 14°C
  • Sun
  • 19°C
  • 14°C
  • Mon
  • 26°C
  • 13°C
  • Tue
  • 29°C
  • 12°C
  • Wed
  • 21°C
  • 14°C
  • Thu
  • 25°C
  • 14°C
  • Fri
  • 26°C
  • 14°C
  • Sun
  • 23°C
  • 13°C
  • Mon
  • 20°C
  • 14°C
  • Tue
  • 19°C
  • 13°C
  • Wed
  • 21°C
  • 12°C
  • Thu
  • 27°C
  • 14°C
  • Fri
  • 21°C
  • 15°C

[LISTEN] Do we need a state-owned bank?

| Wits academic Mondi Lumkile says there’s still space to add more banks to tighten the competition in the finance space.

Mondi Lumkile, senior lecturer at Wits School of Economics and Business Science, says there’s still space to add more commercial banks to tighten the competition in the finance space.

On Wednesday, the Competition Commission referred a case to the tribunal, which will now determine if a total of 17 banks broke the law by manipulating the markets as far back as 2007.

Absa, Investec and Standard Bank are among the implicated financial institutions.

In brief statements, both Absa and Investec have committed to working with authorities in their investigation into alleged price fixing and the creation of fictitious bids on local and international markets.

According to the Competition Commission dealers allegedly manipulated offers and trading times using platforms such as Bloomberg messenger to collude with one other.

More in Multimedia

Comments

EWN welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

- Racism (including offensive comments based on ethnicity and nationality)
- Sexism
- Homophobia
- Religious intolerance
- Cyber bullying
- Hate speech
- Derogatory language
- Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the EWN community a safe and welcoming space for all.

EWN reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

EWN is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

comments powered by Disqus