Finance Minister Malusi Gigaba has instructed legal counsel to institute review proceedings in the high court in a bid to have Public Protector Busisiwe Mkhwebane’s findings and remedial action on Absa Bank and the SA Reserve Bank (Sarb) set aside, his office announced on Wedneday afternoon.
In her report titled “Alleged Failure to Recover misappropriated Funds”, released in June, Mkhwebane criticised government and Sarb for failing to recover R1.125 billion from Bankorp Limited/Absa Bank she said was advanced as an “illegal gift” to the Bankorp group.
Mkhwebane also directed Parliament to effect a Constitutional amendment to Sarb’s powers.
“The basis for the review is that, the remedial action breaches the principle of legality and the findings of fact are not necessarily adequately connected to the evidence which was before the Public Protector,” Gigaba’s office said.
“Prior to taking the above decision, the Minister engaged the Public Protector to gain a deeper understanding of the facts and evidence, which underpins some of the findings and conclusions against the Government. This was necessary because the investigation preceded the Minister’s tenure in office.”
– African News Agency (ANA)
