Politics underpin many SA banks
25 October 2015 - 02:02
ABSA, founded under another name in 1934 and known today as Barclays Africa Group, might not have seen the light of day had it not been for the determination of some 60 Afrikaner broeders (brothers) to heed the call for the establishment of an Afrikaner bank. LJ du Plessis, a prominent Broederbond member, is credited with calling for such a bank as far back at the 1920s, according to Hermann Giliomee, historian and political studies professor.
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