Head of SA Bank Note sacked

2011-01-24 17:48

Johannesburg - The SA Reserve Bank has dismissed the suspended head of the SA Bank Note Company, spokesperson Hlengani Mathebula said on Monday.

"Following a formal disciplinary process, the South African Reserve Bank has dismissed Mr Musa Mbhele as the Managing Director of the South African Bank Note Company (SABN) and as an employee of the Bank," Mathebula said in a statement.

"Mr Mbhele was suspended last year when weaknesses were uncovered at the SABN."

Mbhele was suspended in August from the SABN, which is a subsidiary of the Sarb.

"An acting MD has been in place since his suspension and she has tightened procedures and implemented the necessary checks and balances to ensure that the company provides the consistent levels of superior service expected of it," Mathebula said.

The Sunday Independent reported last year that Mbhele had allegedly been charged with failing to comply with quality standards in connection with the printing of Zambian kwacha and Namibian dollar notes.

  • gavin - 2011-01-25 09:20

    @Leigh - Yes I agree. Eventually SA reserves wikll be squandered but this may take a decade or more

  • pages:
  • 1