You are here: Home » Reuters » News
Business Standard

Barclays Africa must repay 1.1 billion rand over bailouts

Reuters  |  PRETORIA 

PRETORIA (Reuters) - Barclays Africa Group unduly benefited from apartheid-era bailouts and must repay 1.1 billion rand ($86 million), South Africa's anti-graft watchdog said on Monday.Public Protector Busisiwe Mkhwebane in January reopened a probe of Barclays South Africa following a wider report published last November by her predecessor.She said on Monday that the probe had found that the apartheid government breached the constitution by supplying Bankorp, which was acquired by Barclays Africa unit Absa in 1992, with a series of bailouts from 1986 to 1995.Barclays Africa would have to pay ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Mon, June 19 2017. 17:30 IST
RECOMMENDED FOR YOU