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Standard Bank suspends economist Hart following Twitter comments

Inquiry to be launched.

Standard Bank Group, Africa’s biggest lender, said it suspended economist Chris Hart while he faces disciplinary action for comments he made on Twitter that may have “racist undertones”.

The Johannesburg-based lender earlier said on its website it distanced itself from Hart’s comments on January 3, which caused a backlash on Twitter from people calling him a racist and urging Standard Bank clients to boycott the lender.

Hart later apologized in a Twitter post, saying that he didn’t intend to cause offense and that his comments were meant to be read in the context of a slowing economy. Standard Bank said his earlier statements were “factually incorrect, make inappropriate assumptions about South Africa and have racist undertones”.

Standard Bank shares were down 1.92% to R111.32 at Monday’s close.

Read both statements here.

COMMENTS   1

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I make no judgement on whether his statements are right or wrong but i don’t believe his tweets were racist. I bet right now he is wishing there was a ‘mulligan button’ on twitter

End of comments.

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