with immediate effect.
Kganyago has since said that the bank will remain open, and customers and staff are encouraged to continue supporting the bank. Meanwhile, the Reserve Bank has indicated that under the latest Financial Sector Laws Amendment Act, the resolution process for a failing financial institution will take place under the management and control of the Reserve Bank.
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Lack of capital should be warning signs
So a bank that's keeping people's money doesn't have money. Aaaaaiiiiii this is confusing us.
but how it's lack capital when there was a investor who offered 1billion rand investment just for 40% shares ?
The curious case of curatorships?