Closing of Gupta bank accounts a 'political stunt' - Zuma advisor

18 April 2016

Johannesburg - The decision by the country's banks to close the Gupta family's accounts was a “political stunt”, President Jacob Zuma's political advisor, Vuso Shabalala, says.

"It sends an unequivocal message about who is in power in SA today; who determines what the state may or may not do," he wrote in an opinion piece published on politicsweb.

The move had nothing to do with morality or the banks protecting their reputations.

"Ordinarily, such brazen display of power by banking oligopolies especially, would be met by fierce resistance by democratic forces as it rightly should. But the Guptas are no ordinary mortals, of course, depending on your vantage point."

Shabalala said it was the banks and their "most treasured clients" who showed strong resistance to the implementation of some laws.

He said since 1994, the "Old Establishment" had steadily been chipping away at the power of the ANC-led government.

In the last couple of years, they had breached the "armour around democratic forces" by using brazen lies and innuendo directed at the ANC and its leaders.

He claimedthat  the suspension of radical transformation allowed the black middle class to accommodate itself in the "embrace of the Old Establishment".

While the Guptas had benefitted from the "democracy dividend", the "Old Establishment" had benefited much more.

Shabalala said the fight against corruption was being used against a government which was building institutions to promote good governance.

When the ANC-led government identified and prosecuted corruption, these cases were used to discredit the government.

He said the Congress of SA Trade Unions had participated in the formation of Corruption Watch and its former general secretary, Zwelinzima Vavi, was leading the "spirited and well-resourced campaign" to overthrow the ANC government.

He said Vavi had called on the banks to dissociate themselves from the Guptas.

Shabalala said the status quo was doomed and could not be reformed. The only question was whether the "Old Establishment" would willingly promote radical socio-economic transformation.

"The idea that 'democratic regime change' will save SA belongs to Sterkfontein (a mental institution).

"What will save SA in the medium term requires the realisation that economic apartheid must end," he said.

This article first appeared on News24, see here.