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South Africa Central Bank Says Graft Ombudsman Met Zuma Lawyers – Bloomberg

The country’s graft ombudsman used a probe into an apartheid-era bailout of a lender to attack the South African Reserve Bank and didn’t disclose a meeting with lawyers in President Jacob Zuma’s office to discuss the investigation before its findings were released, the central bank said.

Public Protector Busisiwe Mkhwebane instructed lawmakers in a June 19 report to amend the constitution to make the bank focus on the “socioeconomic well-being of the citizens” rather than inflation. This followed her probe into CIEX consultancy’s report on the bank’s bailout of Bankorp, which Barclays Africa Group Ltd.’s Absa bought in 1992. She told Absa to repay 1.125 billion rand ($87 million). The High Court set aside her instruction to change the central bank’s mandate last month.

South Africa Central Bank Says Graft Ombudsman Met Zuma Lawyers – Bloomberg

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