ANCYL, Breaking News, Statements

ANCWL calls on Govt. to terminate contracts with ABSA

African National Congress Womens League (ANCWL)
African National Congress Womens League (ANCWL)

The African National Women’s League (ANCWL) has welcome the Public Protector report which instructs the Special Investigating Unit (SIU) to recover the misappropriated public funds given to ABSA amounting to R1.1 billion.

According to the Public Protector Adv Busisiwe Mkhwebane’s report on CIEX, ABSA (Barclays Africa Group ) unduly benefited from the apartheid-era loan bailouts and must repay 1.125 billion rand back in to the fiscas.

The ANCWL says it has been consistently calling for the release of all reports related to CIEX in order for South Africans to find closure on the matter.

The ANCWL has called on government departments and all State owned entities doing business with ABSA to terminate their contracts with the bank with immediate effect.

“Government and its entities cannot continue to give business to the same ABSA who has failed to repay the loan from the South African Reserve Bank.” said Womens League

“We appeal for further probe to recover all the monies allegedly stolen by the Apartheid government and its cronies which has left South Africa bankrupted.”

The League says it believes that those funds have to be recovered and used for the development of the prosperous country.

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