On Friday the ANC Youth League took to the streets of Johannesburg CBD to occupy ABSA Banks's headquarters in protest, demanding that the bank pays the state R2.5 billion.
— Vusi Mphazima (@vusi_sa) February 10, 2017
This comes after the much publicised leaked public protector report which found that a bank ABSA had purchased had received massive bailouts from the South African Reserve Bank (SARB) under apartheid. A report by a British Intelligence company, Ciex, contended that Absa owed money for interest not paid, which was subsequently investigated -- and cleared by the Davis Commission. The matter was revived by the Public Protector, and a leaked version of the report, before it was finalised, recommends that ABSA, which bought Bankorp, now pay back interest on the bail-outs it received.
The ANCYL is demanding that ABSA pays back the money immediately so that it can be used to fund youth entrepreneurship projects.
— ANCYL (@ANCYLhq) February 10, 2017
Suggest a correction— ANCYL (@ANCYLhq) February 10, 2017