The African Bank, which relied on unsecured lending, has diversified its product offerings
Gigaba has asked the court to overturn the entire Bankorp report rather than just striking down sections of it, as Absa and the Reserve Bank has asked
In SA, at worst, they will lose their jobs. But things will get ugly if Uncle Sam goes after them.
The public protector’s leaked report has set the cat among the pigeons. Some claim the facts have been skewed to the point of absurdity.
The public protector’s leaked report into the Reserve Bank bailouts of Bankorp has set the cat among the pigeons.
Our work is to find and uncover the real story, the real facts that are often elided in the various simple narratives produced for political ends.
They include Qatar, American pensioners and the Public Investment Corporation, but the sums are smallish – and payment may never happen.
The public protector has revived an old probe into a bank rescue, leaving the government red faced over its inaction.
Mantashe stressed that the Reserve Bank must answer for the closure of the family’s accounts – despite its insistence that it would not get involved.
Given the deterioration of the continent’s prospects, the question is who would want to take over the bank’s 62% stake in JSE-listed Barclays Africa.
On International Consumer Rights Day, Tshiwela Mhlantla, managing executive of Absa Personal Loans, shares some vital financial management tips.
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/ 13 February 2008
KwaZulu-Natal (KZN) Judge President Vuka Tshabalala said on Wednesday that he had returned all the shares in Absa Bank worth millions of rands, which were given to him by a consortium headed by businessman Tokyo Sexwale. ”I have returned the shares. That’s the end of the matter,” said Tshabalala.
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/ 11 February 2008
A tired-looking JSE was 89 points in the red by noon on Monday as weak global markets continued to weigh. By midday, the broader all-share index had shed 0,32%. The gold-mining index pulled back 1,42%, resources added 0,05% and the platinum-mining index was up 0,97%. Industrials fell 0,77%, financials were down 0,29% and banks gave up 0,29%.
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/ 11 February 2008
Absa, South Africa’s biggest retail bank, said on Monday it expects group headline earnings per share and EPS to be between 15% and 19% higher in 2007. Absa, which is majority-owned by Britain’s Barclays, said headline EPS and EPS for the bank unit would be between 25% and 28% higher than the previous year.
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/ 21 December 2007
Sport and Recreation Minister Makhenkesi Stofile spoke to Lucky Sindane about the new Sports Amendment Act, which allows government to intervene in all sporting matters. He said that once the playing grounds have been levelled, our children will start from the same starter blocks with an equal preparation and opportunity to win.
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/ 20 December 2007
South Africa’s producer price inflation (PPI) slowed to 9,1% year-on-year in November, below forecasts, from a 9,5% rise in October. On a monthly basis, PPI rose by 0,3% after a 1,1% jump in October. Economists had forecast that annual PPI would come in at 9,7%, while the monthly rate of increase was seen at 0,8%.
The Premier Soccer League (PSL) has expressed disappointment with Finance Minister Trevor Manuel for involving himself in its affairs and has written to Sports Minister Makhenkesi Stofile, asking him to intervene, the South African Broadcasting Corporation reported on Monday.
It has been described by one newspaper as ”splitting the Premier Soccer League [PSL] down the middle.” But what Finance Minister Trevor Manuel described as ”morally reprehensible” commission payments amounting to hundreds of millions of rands to PSL officials has seemingly united 45-million South Africans in outraged opposition to the professional soccer organisation.
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/ 11 September 2007
Absa Group chief operations officer Peter Mageza has been appointed as an executive director on the boards of Absa Group and Absa Bank, with effect from September 10. Mageza who has been with the Absa Group since 2000, was appointed as COO three years ago.
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/ 7 September 2007
It is 4.45pm at Meadowlands High School in Soweto. On the football field five different teams from around the area gather to prepare for their next league match. Two teams are using the partly grassed and already dusty field. On the sidelines there are about 20 players from Mighty Solutions FC.