South African Apex Bank Goes Head-to-Head With Public Protector Over Bank Fraud

Dec 15, 2019 · 1m 33s
South African Apex Bank Goes Head-to-Head With Public Protector Over Bank Fraud
Description

The South African Reserve Bank (SARB) has hit back at Public Protector Busisiwe Mkhwebane, saying it already responded to her in September and is waiting for her feedback regarding the...

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The South African Reserve Bank (SARB) has hit back at Public Protector Busisiwe Mkhwebane, saying it already responded to her in September and is waiting for her feedback regarding the VBS Mutual Bank saga, according to eNCA.
This comes after Mkhwebane, at a media briefing on Thursday, claimed that the Public Protector's office was experiencing challenges in the investigation.
However, eNCA reported that the SARB did not comment on the ongoing investigations, says it "finds it surprising that the Public Protector finds it necessary to address these matters, whilst an investigation is ongoing".
While Speaking to the broadcaster, Mkhwebane said the investigation should be completed by now. Adding that her office experienced "challenges of receiving co-operation from state institutions, including the reserve bank".
She further said her office had received a complaint from the DA regarding the role of municipal officials in the VBS matter, alleging that this was in violation of the Municipal Finance Management Act.
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Author Africa Business Radio
Organization Africa Business Radio
Website -
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