SACP slates Mineral Resources Minister Zwane over statement

2016-09-03 12:13
Mineral Resources Minister Mosebenzi Zwane. (Photo: Mining Indaba)

Mineral Resources Minister Mosebenzi Zwane. (Photo: Mining Indaba)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Pretoria – The SACP has slammed Mineral Resources Minister Mosebenzi Zwane for his statements regarding a judicial commission of inquiry into the banking sector over the Gupta saga.

"Minister Zwane's utterances effectively fed into the use of our Cabinet to advance the private business interests of the Guptas while ignoring public outcry and call for a judicial commission into corporate state capture," spokesperson Alex Mashilo said in a statement.

"It also shows how an individual cabinet minister can use his position to serve private business interests, break policy coherence and cause the confusion such as the Presidency had to clarify regarding Zwane's utterances."

Zwane, who chaired an inter-ministerial committee set up by Cabinet to probe why South Africa’s banks blacklisted Gupta-owned businesses, said in a statement that a judicial inquiry be considered to look into:

 - The current mandates of the Banking Tribunal and the Banking Ombudsman;
 - Consider the current Financial Intelligence Centre Act (Fica) and the Prevention of Combating of Corrupt Activities Act in relation to the banks' conduct;
 - Reconsider South Africa’s clearing bank provisions to allow for new banking licences to be issued; and
 - Look into the establishment of a state bank of South Africa with the possible corporatisation of the Post Bank being considered as an option.

Personal capacity

The announcement by Zwane was feared to cause further market turmoil, currency weakness and make a sovereign ratings downgrade more likely.

However, the Presidency said on Friday that Zwane's remarks were issued in his personal capacity and not on behalf of the task team or Cabinet.

"Minister Zwane is a member of the task team. He does not speak on behalf of Cabinet and the contents of his statement do not reflect the position or views of Cabinet," Presidency spokesperson Bongani Ngqulunga said.

"The unfortunate contents of the statement and the inconvenience and confusion caused by the issuing thereof, are deeply regretted," he added.

Mashilo said Zwane’s statement directly contradicted a public outcry and call to the President, including by the SACP, to establish a judicial commission of inquiry into corporate state capture not limited to, but including, allegations levelled against the Guptas. He said action must be taken against the minister.

"Such wrongful things must come to an end. The President needs to consider further action to achieve the objective," he said.

Calls to axe Zwane

Those sentiments were shared by DA Shadow Minister of Finance David Maynier, who said Zwane's head should be on the block. Maynier said they welcomed the news that President Jacob Zuma has distanced himself from Zwane's statement.

"However, the statement does not go far enough; it leaves the political door open for some of the bizarre recommendations, supposedly made by the Minister in his personal capacity, to be considered in the future.

"The fact is that the task team should never have been established and the Guptas should never have been allowed to effectively "contract" the Executive to carry out a "political hit" on the banking sector, National Treasury and the South African Reserve Bank," said Maynier.

He added that Zuma should step up and act decisively by immediately shutting down the task team looking into the termination of banking relationships with Oakbay Investments (Pty) Ltd, and firing Zwane from Cabinet.

Read more on:    mosebenzi zwane  |  politics  |  guptas

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

Inside News24

Financial advisors – Do you need one and should you get one?

The good, the bad, and everything else you need to know when considering hiring a financial advisor.


Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.