So here we are again, those who have been saving money in any Money Market Account, will be getting a surprise on their next statement, when they notice a deduction from their funds to help out the ailing African Bank.
Absa explains African Bank deductions
Money-market investors risk losses on African Bank debt
ABSA - The Money Market Fund – we answer your questions
R4.6bn in African Bank moved to ‘side pockets’
Standard Bank has also been affected.