Nedbank CEO Mike Brown says 37 of their bank branches and 112 ATMs have been vandalised or looted.
Speaking to Biznews, Brown said they could currently not get to these facilities to determine the extent of the damage. All we know at the moment is the number of machines and branches, not the actual losses and damages,” said Brown.
He said it is “absolutely extraordinary and devastating” what’s happening in our country right now.
“What is played out in front of us is evidence of absolutely no respect for law and order, which is the foundation for any society,” he said.
The Nedbank CEO said “it’s extraordinarily difficult” to lead a business the size of Nedbank during these tumultuous times.
“What we’ve done is to focus on the safety of our staff in the first instance,” said Brown.
“All our brank branches in KwaZulu-Natal and the affected areas in Gauteng closed, so that means we’ve probably only got about 50% of our total branches open in the country – 250 to 260 branches are closed,” he said.
“Thankfully, as of today, we’ve had no injuries to any of our staff which is our primary focus at the moment.”
Other banks, including Absa, Capitec Bank, Standard Bank, and FNB, have also closed branches in KwaZulu-Natal and Gauteng.
Capitec Bank marketing and communications executive Francois Viviers said they have closed over 300 bank branches and ATMs.
“ATMs in affected areas will not be supplied with cash or accept deposits until it is safe to do so,” said Viviers.
Absa said that it has temporarily closed all its KwaZulu-Natal branches and some branches in the south and north Gauteng region to ensure the South African stocks retreated Thursday as investors assessed whether authorities are succeeding in calming rioting and looting that has left more than 70 people dead.
The JSE Africa All Share Index dropped 0.4% by 10:06 a.m. in Johannesburg. A steadier rand helped a recovery in locally-focused sectors, while benchmark giant Naspers Ltd. advanced.
That was countered by declines in market heavyweight Richemont and drops in mining majors BHP and Anglo American Plc.
A South African man looted a whole ATM. Its not clear which bank was dispossessed of the ATM.
Its also not clear where the cash cassettes are. They don’t seem to be part of his loot. @ZBCNewsonline @Jamwanda2 @MelodyChakatsva @cnnbrk @HeraldZimbabwe @enkudheni @RangaMberi pic.twitter.com/oFj9n3iXWv
— Mhofu (@mhofela_mhofu) July 14, 2021
Insurer Liberty Holdings soared the most on record as majority shareholder Standard Bank said it plans to acquire the shares it doesn’t already own.fety of its customers and employees.
The Banking Association South Africa (BASA) said the destruction of bank branches and ATMs directly imperils the safety, social security, economic activity, and jobs of South Africans.
In other news – Bishop Israel Makamu back on air
Controversial media personality Bishop Israel Makamu’s back on Moja Love’s flagship show, Rea Tsotella.
He had voluntarily stepped down as the host after he was embroiled in drama where an audio clip of him allegedly asking one of his young congregants for s.e.x circulated on social media. Learn more
Source: mybroadband
