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Mkhwebane's future rests on ConCourt bid

22 July 2019 7:32 AM
Tags:
Reserve bank
Concourt
Absa
Advocate Busiswe Mkhwebane
Bank-corp

EWN reporter Barry Bateman weighs in on the pending judgment involving the public protector.

The Constitutional Court on Monday will rule on whether Public Protector Busisiwe Mkhwebane should personally pay some of the Reserve Bank (SARB’s) legal fees as per a 2017 High Court decision.

It's in respect of her previous litigation with the Reserve Bank stemming from her report into the apartheid-era Bankorp bailout or 'lifeboat'.

Mkhwebane's report ordered Absa to pay back R1.125-billion to the Reserve Bank.

RELATED: Mkhwebane: Ramaphosa deliberately misled Parliament on Bosasa donation

The Bankorp found itself in financial difficulty, it reached out to the Reserve Bank and the Reserve Bank put together a loan to enable the Bankorp to survive.

Barry Bateman, Reporter - EWN

The report and the remedial action was reviewed and set aside.

The High Court in Pretoria made adverse findings against Mkhwebane in her handling of this investigation finding that there was a reasonable apprehension of bias and also that she didn't understand the constitutional role of her office to act without fear, favour or prejudice.

Barry Bateman, Reporter - EWN

Bateman adds that not only did the court make adverse findings, but it also slapped her with a personal cost order to pay 15% of the Reserve Bank fees.

Bateman says Monday's ruling will be crucial in determining Mkhwebane's credibility going forward.

If the ConCourt's judgment goes against her, it will add more fuel to the questions around her suitability to hold office.

Barry Bateman, Reporter - EWN

Listen below to the full interview:


22 July 2019 7:32 AM
Tags:
Reserve bank
Concourt
Absa
Advocate Busiswe Mkhwebane
Bank-corp

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