<ul data-eligibleForWebStory="false"><li>Absa and the South African Reserve Bank’s Prudential Authority (PA) plan to appeal a court ruling where the PA was found to have exceeded its powers in objecting to Sipho Pityana's appointment as Absa's chair in 2021.</li><li>The court ruling made no findings against Absa except for joint liability for costs.</li><li>Pityana's nomination as Absa's chair was withdrawn due to concerns raised by the PA regarding his resignation from AngloGold Ashanti.</li><li>Pityana took the matter to court, arguing that the PA acted outside the law by adopting an informal process, leading to a ruling in his favor.</li></ul>

Absa and Reserve Bank to appeal loss in Pityana case

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