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June 8, 2009
Scarce funding takes Absa BEE ship down - analysts
The Batho Bonke ship was sinking and that might leave Absa with no black economic empowerment (BEE) partner in three months, analysts said at the weekend.
Ajay Lalu, a director at Bravura Consulting, and Vuyo Jack, the executive chairman of Empowerdex, were reacting to an announcement last week that Absa would provide a R1.7 billion three-month loan to the Batho Bonke consortium, which failed to raise the money needed to fund an investment in the bank.
Posted by StaffWriter at June 8, 2009 8:12 AM
