For about ten years, the Competition Commission has been trying to prosecute a group of local and international banks over claims that their traders worked together to manipulate the Rand.
On 30 June 2026 the Constitutional Court ruled on the case. The case against the big South African banks, including Absa, FirstRand, Nedbank and Standard Bank, could not go ahead. The case against a group of international banks can go ahead to a full hearing before the Competition Tribunal.
Some people say the banks got away with it. Others say the Commission's case was flawed from the start. In this video we go through what was alleged, what the court decided, and why people disagree – using news reports from BusinessTech, eNCA, Sowetan, The Citizen, Moneyweb, Bizcommunity and others.
Sources are shown on screen in the video.
Disclaimer: No liability is accepted for any loss or damage arising from actions taken or omitted based on this content. Any reliance on the information provided is strictly at your own risk. Please conduct your own research.
#RandManipulation #southafrica #constitutionalcourt #CompetitionCommission #banking
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✅ About Mpho Dagada.
Mpho Dagada is a globally recognized tech visionary , entrepreneur , and CEO dedicated to shaping a brighter digital future. His journey includes becoming a self-made millionaire by age 21 and growing into a trusted advisor on the 4th Industrial Revolution for world leaders, governments, and major corporations like Investec, Google, Standard Bank, and the Bill & Melinda Gates Foundation.
He is the founder and CEO of future-shaping companies, including:
MRDFutureTech: An AI consulting and solutions company you lead, which helps businesses and individuals harness the power of artificial intelligence and machine learning. Website: https://ift.tt/RekbtQh
from Mpho Dagada Network https://www.youtube.com/watch?v=62KGua6Qncs
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