ABSA Reserve Bank saga deflection from the PP’s state capture report

17 January 2017

“The ABSA-SARB saga regarding the aid that the Reserve Bank had given to ABSA is a smokescreen to deflect the attention away from the state capture report of the Public Protector. According to the PP’s report, the president should appoint a commission of inquiry into state capture, and it actually says a lot that the ANC is now insisting on a commission of inquiry into apartheid looting of the state coffers. It is clear that the ANC realises that it will not get away without a commission, as prescribed by the PP, and now has to try and create a balance, and actually wants to say that under apartheid the government was also a victim of state capture.

“This approach of the ANC is confirmed by the timing of the leaking of the report on ABSA and the Reserve Bank. Why now, after 22 years suddenly is there the insistence on a commission of inquiry, while previous presidents and ministers of the ANC had been aware of this aid and the Ciex report? Cosatu is also abusing the situation with renewed calls for the Reserve Bank to be nationalised. Such nationalisation will damage investor confidence further, and the negatively affect the economy.

“What should be done, is for president Zuma to appoint a commission in terms of the PP’s recommendations, and not to approach the court to delay the matter,” Dr. Pieter Groenewald, leader of the FF Plus, said.

Issued by Pieter Groenewald, FF Plus leader, 17 January 2017