Absa explains why it’s going to court over Public Protector Report

The Money Show’s Bruce Whitfield interviews Adv. Paul Hoffman, Director at Accountability Now, and Absa Spokesperson Songezo Zibi.

FILE: Public Protector advocate Busisiwe Mkhwebane. Picture: Gia Nicolaides/EWN.

Absa is going to court to review Public Protector Busisiwe Mkhwebane’s report on a bailout the bank received during apartheid.

Mkhwebane found that Absa must pay back about R1.125-billion.

The bank accuses Mkhwebane of making “numerous misrepresentations and factual inaccuracies” to back up her findings.

The Money Show’s Bruce Whitfield interviewed Adv. Paul Hoffman, Director at Accountability Now, and Absa Spokesperson Songezo Zibi.

Listen to the interviews in the audio below (and/or scroll down for quotes from it).

She doesn’t mention the word ‘Sanlam’.

Songezo Zibi, Absa

It was handled by intelligence services at the time.

Songezo Zibi, Absa

The money never left the country.

Songezo Zibi, Absa

Sanlam’s policy holders are liable, but it would be impossible to recover.

Songezo Zibi, Absa

The South African Government erred in abandoning the investigation.

Adv. Paul Hoffman, Accountability Now

Absa may have some problems in getting a review.

Adv. Paul Hoffman, Accountability Now

She has not said ‘pay back the money’.

Adv. Paul Hoffman, Accountability Now

Before you get to a remedial action; your finding has to make sense!

Songezo Zibi, Absa

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This article first appeared on 702 : Absa explains why it’s going to court over Public Protector Report