South African Public Protector, Busisiwe Mkhwebane, found that the bailout of R1.125 billion that Absa's predecessor Bankorp Group had received between 1985 and 1992 from the Reserve Bank was illegal, and recommended that Absa be forced to pay back R2.25 billion, the current equivalent of the amount. The report was set aside by the Pretoria High Court, finding that "The public protector did not conduct herself in a manner which would be expected from a person occupying the office of the public protector." The court assessed some costs of the case personally against Mkhwebane due to her conduct, an order upheld by the Constitutional Court of South Africa in July 2019. Absa Group Limited (2018-present) Barclays Bank Plc in 2018 owned 14.9 percent of Absa Group Limited. In March 2018, Barclays Africa announced the group's name would revert to Absa Group Limited, effective 30 May 2018. The company underwent rebranding in 2018, inclusive of a new logo and slogans. Absa opened an international office in London in September 2018, then in 2019, opened another international office in New York City. As of October 2019, according to Club of Mozambique, Absa Group Limited had total assets in excess of US$91 billion. ABGL in 2020 was the majority shareholder of 11 banks located in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania (two entities), Uganda and Zambia. In March 2022, Sello Moloko was appointed Group Chairman and Arrie Rautenbach was appointed CEO, and its fourth CEO in three years. The company had been without a CEO for eleven months after the abrupt resignation of Daniel Mminele. In August 2022, Barclays Plc sold its remaining stake in Absa, which it had acquired in 2005, selling 7.4 percent of Absa's issued capital for $620 million. Overview and structure Absa Group Limited's shares are listed on the JSE Limited stock exchange. In 2020, Absa Bank Kenya and Absa Bank Botswana continue to be listed on their respective stock exchanges. Major shareholders Below is the Absa Group's 10 largest shareholders as at 15 January 2019: Subsidiaries Absa Bank Limited (100%) Absa Financial Services Limited (100%) Absa Bank Botswana (67.8%) Absa Bank Ghana (100%) Absa Bank Kenya (68.5%) Absa Bank Mauritius (100%) Absa Bank Mozambique (98.1%) Absa Bank Seychelles (99.8%) Absa Bank Uganda (100%) Absa Bank Zambia (100%) National Bank of Commerce Limited (55%) Absa Bank Tanzania (100%) Legal matters ABSA v. Sweet Mortgage loans misconduct