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Reserve bank rejects loan repayment calls
Top prosecutor angry at apartheid-era bailout
by James Tweedie
SOUTH AFRICA’S Reserve Bank (SARB) resisted calls for reform yesterday after the state watchdog demanded legal action over its apartheid-era loans.
Public Protector Busisiwe Mkhwebane said on Monday that commercial bank Absa should repay a 1.125 billion rand (£68 million) bailout of Bankorp by the SARB in the final years of the apartheid regime.
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