FIX­ING FOR TROU­BLE

The Africa Report - - BRIEFING -

In Fe­bru­ary, the Com­pe­ti­tion Com­mis­sion an­nounced that its two-year probe into bank col­lu­sion found that 17 fi­nan­cial in­sti­tu­tions had col­luded to fix the rand’s ex­change rate to the US dol­lar. With the gov­ern­ing ANC party call­ing for “rad­i­cal eco­nomic trans­for­ma­tion”, there is a lot of pres­sure on South Africa’s banks to up their game.

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