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News

Reserve Bank seeks cost order against Mkhwebane

The public protector says she is “disturbed and saddened” that the Reserve Bank is seeking a costs order against her in her personal capacity for her report on Absa and Bankorp.

“I am so disturbed and saddened that an organ of state like the Reserve Bank can ask for that when the Constitution is very clear in terms of section 181 that organs of state should be supporting the public protector in the performance of her duties‚” Busisiwe Mkhwebane said on Monday.

“If you seek for punitive costs‚ it means I must not do my work without fear or favour‚” she said.

On Tuesday‚ the High Court in Pretoria begins hearing argument from the Reserve Bank‚ Absa and the Treasury on why Mkhwebane’s finding that Absa benefited unduly from an apartheid-era bail-out of Bankorp is incorrect and should be set aside. She also wanted Absa to repay R1.125bn.

The Reserve Bank claims she was not impartial‚ as required by section 181‚ and is seeking a declaratory order that she abused her office.

BusinessLIVE https://www.businesslive.co.za/bd/national/2017-12-05-reserve-bank-action-saddens-busisiwe-mkhwebane/