SARB seizes R19.7m from Gupta company, Sahara Computers
MyBroadband reports ‘that the Reserve Bank Deputy Governor has ‘declared and ordered the forfeit to the state of R19,669,000’ from the company account.
MyBroadband reports ‘that the Reserve Bank Deputy Governor has ‘declared and ordered the forfeit to the state of R19,669,000’ from the company account.
Two residents of New York City have been infected by a Covid-19 strain first discovered in SA, according to The Wall Street Journal.
Bloomberg reporter Prinesha Naidoo writes that the GDP in South Africa has not expanded by more than 3% since 2011.
‘SA’s banking regulator eased guidance to lenders that they shouldn’t pay dividends and executive bonuses’, reports Bloomberg.
South Africa stands to lose five years of potential economic output as a result of the shock from the coronavirus pandemic and measures to curb its spread, warns the Reserve Bank’s lead economist.
Shortly after being appointed South Africa’s Registrar of Banks in 2015, Kuben Naidoo asked his colleagues where the banking license division was. He was told that there wasn’t one because the registrar hadn’t received an application for 11 years.
For those of us following the VBS heist, this is an essential road map to help navigate what is happening in the aftermath of the revelations of massive fraud.
South Africa will strive to allow competition into its banking system in a way that won’t threaten the stability of the industry.
The South Africa Reserve Bank isn’t comfortable with private equity companies owning stakes in the country’s lenders, says Deputy Governor Kuben Naidoo.