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Standard Bank accuses commission of ‘ignorance’ for R8.5bn loss in rand rigging case

Daily Dive by Daily Dive
August 24, 2025
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July 30 2025. Adv Kate Hofmeyr at the Constitutional court in Johannesburg representing the president in a matter that is brought to the court for three reasons related to police minister Senzo Mchunu’s leave of absence. Picture. Thapelo Morebudi

July 30 2025. Adv Kate Hofmeyr at the Constitutional court in Johannesburg representing the president in a matter that is brought to the court for three reasons related to police minister Senzo Mchunu’s leave of absence. Picture. Thapelo Morebudi

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Standard Bank slammed the Competition Commission for “ignorance” after losing an R8.5bn rand-rigging case, arguing the watchdog failed to prove collusion in forex trades. The bank says the case was mishandled and highlights flaws in the regulator’s approach.

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