Jacques Pretorius, former Absa Insurance Managing Director.
Image: Facebook
The South African Social and Economic Development Forum has expressed outrage after a former Absa executive was granted R5 000 bail following his arrest on Monday for the murder of his wife and defeating the administration of justice.
The National Prosecuting Authority (NPA) together with police, confirmed that Jacques Pretorius made his first appearance in the Somerset West Magistrate’s Court, where via his affidavit, revealed he would be pleading not guilty to the 2021 murder of his wife, Sheri-Ann.
Sheri-Ann’s murder was first deemed a suicide and following an intense investigation, Pretorius, who is the former founding managing director of Absa iDirect/Absa Insurance, was fingered as her alleged killer.
Police spokesperson, Malcolm Pojie, said: “Be advised that the accused appeared in the Somerset West Magistrate's Court (Tuesday).
"The court granted him bail of R5 000. The matter was postponed to13 May 2025.”
NPA spokesperson, Eric Ntabazalila, confirmed the new court date for Pretorius.
“Please note that the Somerset West murder and defeating the administration of justice case has been postponed until 13 May 2025 for further investigation,” he said.
The South African Social and Economic Development Forum released a statement on the arrest and said they were shocked at the bail amount.
"Jacques Pretorius is the founding managing director of Absa iDirect, a key player in the South African direct short-term insurance industry.
"He also serves on the joint Executive Committee of Absa Insurance Company and Absa iDirect and holds key responsibilities in both insurance companies.
"He was released on bail for only R5 000.
"How cheap has one's life become in South Africa.
"A wealthy banker, businessman gets R5 000 bail on murder charges. How ridiculous is that.”
Cape Argus