Barclays Bank fined $86 million for apartheid-era bailout

South Africa's anti-graft watchdog says that Barclays Africa Group unduly benefited from apartheid-era bailouts and must repay 86 million dollars. Public Protector Busisiwe Mkhwebane in January reopened a probe into Barclays South Africa following a wider report published last November by her predecessor. The investigation found that the apartheid government breached the constitution by supplying Bancorp, which was acquired by Barclays Africa unit Absa in 1992, with a series of bailouts from 1986 to 1995. Busisiwe's office has referred the matter to the Special Investigating Unit to help recover the money. Absa is under no obligation to pay anything to the South African government.
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