Gordhan must be redeployed - ANCYL

2017-02-17 16:00
Finance Minister Pravin Gordhan. (GCIS)

Finance Minister Pravin Gordhan. (GCIS)

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Johannesburg – Finance Minister Pravin Gordhan has failed to transform the Treasury and must be redeployed, the ANC Youth League said on Friday.

“Get someone who is going to start cracking the whip in Treasury, to make sure that the people in Treasury will have the appetite to pursue the development agenda of South Africa and not protect white monopoly capital,” ANCYL secretary general Njabulo Nzuza told reporters at a briefing on the outcomes of its national executive committee meeting.

Financial institutions like banks were continuing to enjoy the protection of Treasury, he said.

The league had accused Gordhan of having a "huge appetite" to protect financial institutions.

Thousands of the league's supporters marched to Absa bank in central Johannesburg last week. This was in reaction to a Public Protector report that Absa had benefitted from an unlawful apartheid-era bailout when it bought Bankorp in 1992. Public Protector Busisiwe Mkhwebane recommended in the leaked preliminary report that Absa repay R2.25bn.

The ANCYL wanted legislation that would enable the establishment of a state-owned bank to be finalised before the end of the year.

Nzuza said Gordhan was not the only person who deserved the chop. A complete overhaul of Treasury was needed.

Read more on:    ancyl  |  pravin gordhan

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