South Africa’s largest banks have testified at the State Capture Inquiry.
Highlights thus far:
Standard Bank representative Ian Sinton has implicated former Mineral Resources Minister Mosebenzi Zwane and Labour Minister Mildred Oliphant who, according to his testimony, tried to get the bank to reverse its decision to close the Guptas’ accounts.
FNB and Absa questioned the Government’s apparent “interference” in their decision to close the accounts of all Gupta-linked companies.
Nedbank CEO Mike Brown has told the state capture inquiry he felt threatened by the then Mineral Resources Minister Mosebenzi Zwane when he attended an inter-ministerial committee meeting to discuss the closure of Gupta-linked accounts.
Brown testified that Zwane threatened that something would happen to the bank’s licence if it did not reverse its decision to close the Gupta accounts.
Zwane also suggested that Nedbank become the primary banker for the Guptas, a suggestion Brown shot down.
Mahlase discussed the five most important aspects of the banks’ testimony at the State Capture Inquiry.
Listen to the interview in the audio below (and/or scroll down for quotes from it).
We had every senior representative of the banks basically telling very similar stories…— Mahlatsi Mahlase, South African National Editors Forum
The banks were able to stand their ground… the ignorance of the Cabinet ministers… putting at risk the economy of the country… These Cabinet ministers were willing to risk all of that for the Gupta family…— Mahlatsi Mahlase, South African National Editors Forum
To have the governing party [ANC] and Cabinet decide to intervene shows the power they [Guptas] did have.— Mahlatsi Mahlase, South African National Editors Forum
Did nobody else oppose… did others actually object to this?— Mahlatsi Mahlase, South African National Editors Forum
It [the ANC] cannot claim innocence… every time there is a new witness an ANC member is mentioned… It’s going to be very difficult for the ANC to say they are not on trial…— Mahlatsi Mahlase, South African National Editors Forum
By 2010 already, senior [ANC] members knew about the influence of the Gupta family…— Mahlatsi Mahlase, South African National Editors Forum
Enjoy The Money Show, but miss it sometimes?
Get the best bits emailed to you daily, right after it ends:
Recommendedby NEWSROOM AI
EWN reporter Barry Bateman unpacks former strategy manager Francis Callard's testimony.
Johan Booysen reveals dodgy dealings between businessman Tosh Mpende and the Saps.
eNCA reporter Erin Bates says McBride told the commission how law enforcement agencies resisted transparency.
AmaBhungane Centre for Investigative Journalism's Sam Sole unpacks his article on the fallout between Cele and McBride.
Zondo commission investigator Patrick Mlambo testifies about his visits to Gwede Mantashe and Dudu Myeni's houses.
Associate editor at Tiso Blackstar, Ranjeni Munusamy unpacks Mcebisi Jonas's cross-examination at the Zondo Commission.
Former Morning Live co-anchor Tracy Going opens up about her attitude to money (hopes and fears, successes and failures, etc.).
Graham Westcott tells Kieno Kammies about how the police allegedly attacked him in Sea Point, Cape Town.
Khabazela shares tweets and Facebook posts that have gone viral.
Former ANC MP Melanie Verwoerd says she is not convinced by David Mabuza's reason to temporarily step aside as an MP.
Guy Leitch, the managing editor of SA Flyer Magazine, provides insights into what caused the airplane crash.
Lumkile Mondi (Wits), Ferial Haffajee and Busisiwe Mavuso (Business Leadership SA) on the President's upcoming "slim" Cabinet.
Police are investigating the deaths which took place at Atlantic Recycling factory in Parow on Tuesday afternoon.