ANC STATEMENT ON THE HITACHI SETTLEMENT WITH THE US SECURITIES AND EXCHANGE COMMISSION

The African National Congress (ANC)  has noted the media reports relating to the settlement paid by Hitachi Ltd to the US Securities and Exchange Commission (SEC). This settlement follows a charge brought against Hitachi for inaccurately reporting payments made to Chancellor House. Whilst we have noted that Hitachi Ltd has neither denied nor admitted the allegations brought against it, the ANC categorically states that the organisation was not involved, implicated nor approached to answer on anything relating to the charges brought against Hitachi.

The ANC was further not involved in the transaction between Hitachi and Chancellor House nor do we have any information on any impropriety relating to the award of the Medupi or Kusile contracts to Hitachi. The ANC therefore cannot comment on matters internal to the two parties.

The 53rd National Conference of the ANC reaffirmed the ANC’s commitment to clean and accountable governance.

Consequently, it directed the National Executive Committee to avoid all possible conflict of interest in the course of raising party funding. We thus welcomed Chancellor House’s decision to divest from Hitachi Power Africa. The ANC is currently engaged in discussions to regulate party funding flowing from the state and the public sector. We will study the outcome of the SEC matter and from that process identify appropriate lessons or actions, if any, to be taken.

Issued by Zweli Mkhize, ANC Treasurer General, 29 September 2015