The “lifeboat” scandal refers to the bailout of Bankorp by the South African Reserve Bank during apartheid’s dying years.
Public Protector Busisiwe Mkhwebane has ordered the Special Investigating Unit (SIU) to recover more than R1 billion from Absa.
The Money Show’s Bruce Whitfield interviewed Noseweek Editor Martin Welz.
Welz discussed the history of, and story behind, the uncovering of the lifeboat scandal.
Listen to the interview in the audio below (and/or scroll down for quotes from it).
It wasn’t a real loan; it was a fictitious loan.— Martin Welz, Noseweek
Sanlam was so fed-up it declared it wasn’t going to lend any money.— Martin Welz, Noseweek
They [Reserve Bank] knew it was a dicey transaction.— Martin Welz, Noseweek
It was scaly.— Martin Welz, Noseweek
It was irregular and a fraud.— Martin Welz, Noseweek
The ANC government approved of this.— Martin Welz, Noseweek
It was a gift made in secret. And Bankorp never declared it.— Martin Welz, Noseweek
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
The Money Show’s Bruce Whitfield interviews four reps from businesses that are sacrificing some profit for the good of society.
Bruce Whitfield interviews famed CapeTalk presenter John Maytham about his new book "Rapid Fire: Remarkable Miscellany".
The Money Show’s Bruce Whitfield interviews JM Busha Investment Group Managing Director Joseph Busha.
What’s behind the stunning fall of the EOH share price? Bruce Whitfield interviews Traders Corner share trader Garth Mckenzie.
The Money Show’s Bruce Whitfield interviews Sanlam Investment Management Portfolio Manager Patrice Rassou.
The Money Show’s Bruce Whitfield interviews Investec Asset Management Economist Nazmeera Moola.
Wasanga speaks to Co-founder of AquaRenu, Nkosinathi Nkomo about turning a problem into an opportunity.
Ndlozi explains the significance of the the first chapter of his thesis: 'Trauma in the archives'.
The Money Show’s Bruce Whitfield interviews Steinhoff International Chairperson Christo Wiese.
Urologist Dr Shingai Mutambirwa says penile curvature is only a concern if it impedes a man's ability to have penetrative sex.
The EFF lawyer stole the show during the state capture report court battle.
Bruce Whitfield interviews the remarkable Wiese (net worth R100 billion!) about how it all began and where it’s going.
WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...
Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?