South African Central Banker Not Hitting the Panic Button Re: KPMG

kpmg south africa

Despite the firm losing clients left and right up to and including today, one guy remains chill:

Addressing a monetary policy forum public meeting in Cape Town, deputy governor Kuben Naidoo said the troubles at KPMG, which audits several South African banks and lost a number of local clients recently, will not pose a financial stability risk to the banking sector.

I guess this means everyone should keep a brave face until the mass layoffs start. Stay tuned.

[Reuters]

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