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'Rough estimate' of R20 million taken from looted ATMs, says banking body

Banks count cost of replacing ATMs looted in unrest

Banks will cough up nearly R400k for each ATM destroyed during unrest

Transformation and BEE is broken in South Africa right now: director

Transformation and BEE is broken in South Africa right now: director Subscribe The Banking Association of South Africa (BASA) has published its transformation in banking report, detailing the progress made by banks in transforming the industry and increasing economic inclusiveness and empowerment. The report shows that the banking industry continues to transform in almost all areas, and that for the first time there are more black African than white middle managers. However, the association called out government and labour unions for failing to take a ‘rational approach’ to many of the problems that still exist. “The frustration that often mars the debate about transformation in South Africa is a result of some of the unmet expectations of our post-apartheid dispensation and the increasingly high levels of poverty, unemployment and inequality that continue to divide the country by race,” said Bongiwe Kunene managing director of the Banking Association South Africa.

Transformation in SA banks doing just fine, says industry body

Even though Absa and African Bank CEOs have stepped down, BASA says there is no general trend showing a reversal in transformation in SA's banking sector.