THE South African Communist Party has joined calls for Barclays subsidiary Absa to pay back millions of pounds worth of illicit apartheid-era “lifeboat loans.” ]

In a statement on Wednesday night, the party joined the ruling ANC’s Women’s League and Youth League in demanding that the bank return the money with interest.

Absa, one of South Africa’s “big four” banks, is accused of pocketing 1.5 billion rand (£90 million) of state cash in the guise of a bailout for the Bankorp group, which it bought in 1992.

This bailout and other payments were allegedly approved by the shadowy Broederbond organisation, which promoted Afrikaner interests over those of other South Africans.

A draft report by national ombudsman the Public Protector’s office (PP) recommending that Absa pay back 2.25bn rand (£134m) was leaked earlier this week.

The allegations were originally made following an investigation by British private intelligence firm CIEX, dating back to 1997. But the CIEX report indicated that figure was just the tip of the iceberg.

The full amount embezzled by apartheid leaders and paid to South African companies could be as high as 26bn rand (£1.6bn).

Named beneficiaries include fellow finance houses Sanlam, Nedbank and FNB, car-maker Daimler Chrysler and weapons giant Armscor.

On Tuesday night, PP Busisiwe Mkhwebane’s spokesman Oupa Segalwe said she had filed charges over the leaking of the report. “Leaking information dents the image of the institution and results in a trust deficit,” he said.

“It could lead to people not trusting our processes, especially whistle-blowers who may not be identified.”