DEVELOPMENT BANK OF SOUTHERN AFRICA - DIDBS - DBSA Update to Noteholders on the UDM Allegations

DIDBS - DBSA Update to Noteholders on the UDM Allegations

Development Bank of Southern Africa Limited
(reconstituted and incorporated in terms of section 2 of the Development Bank of Southern Africa Act,
1997)
Registration number: 1600157FN
JSE company code: DIDBS
LEI code: 25490071AZ4HOFUNIH94
(“DBSA” or the “Bank”)

DBSA UPDATE TO NOTEHOLDERS ON THE UDM ALLEGATIONS

Noteholders are referred to the announcement released on the JSE Limited Stock Exchange News
Service (“SENS”) on 6 November 2020, regarding allegations of mismanagement, corruption and
maladministration levelled against the DBSA by Mr. Bantu Holomisa of the United Democratic
Movement (“UDM”). Noteholders are advised that DBSA presented its response before the Standing
Committee on Public Finance (“SCOPA”) in the South African Parliament on 1 June 2021. Subsequent
to this presentation, SCOPA announced that a formal inquiry into the allegations levelled against DBSA
will be instituted to consider the submission made by Mr. Holomisa, together with the presentation
made by DBSA. DBSA awaits the dates and proposed terms of reference of the SCOPA inquiry.

DBSA welcomes the decision taken by SCOPA and is committed to participating and co-operating fully
with the inquiry. DBSA’s position on the matter remains, being that the Bank strongly refutes all
allegations of mismanagement, corruption and maladministration.

Noteholders are further referred to the DBSA website: www.dbsa.org/media for a press statement on
this matter. The DBSA company secretary may be contacted at bathobiles@dbsa.org for further details
in this regard.


9 June 2021


Debt Sponsor
Rand Merchant Bank, a division of FirstRand Bank Limited

Date: 09-06-2021 08:00:00
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