Business
Absa, one of South Africa's biggest banks, turned a blind eye to money laundering. That's abundantly clear from the evidence Forensics for Justice founder Paul O'Sullivan has pieced together. Absa is hiding behind technicalities to avoid explaining its role in state capture and corruption at Eskom, which is the state entity that is the most troublesome for South Africa and the one which is arguably the biggest obstacle to improving economic growth. Absa has been relatively unaffected by state capture, with its annual profits looking robust. In this interview with BizNews founder Alec Hogg, O'Sullivan explains how a senior Eskom figure withdrew an average of R2m a month and on some days several millions in cash from Absa. And the bank turned a blind eye. O'Sullivan has a reputation for nailing major crooks, including ensuring that former police chief Jackie Selebi was put behind bars. So far, Absa has shrugged off the scandal and has not bothered to provide a detailed response. - Jackie Cameron