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The announcement by the bank follows the recent bad reputation the body have been receiving on allegations of corruption and maladministration by the CEO Thabang Moroe.
Standard Bank said that the turmoil is also affecting their institution negatively as their sponsor.
“Standard Bank is committed to upholding the highest level of leadership, integrity and governance. In light of recent developments at CSA, which are a culmination of long standing problems which have damaged Standard Bank’s reputation. It has decided no to renew it’s contract with CSA” said Standard Bank.