EFF STATEMENT ON HYPOCRITICAL TESTIMONY BY BANKS AT THE STATE CAPTURE COMMISSION

Tuesday, 18 September, 2018

The EFF condemns in the strongest possible terms the opportunism and hypocrisy displayed by the South African big banks in their testimony given to the State Capture Inquiry.

These banks were very happy to do dirty business with the Guptas until the unceremonious December 2015 removal of Nhlanhla Nene as Finance Minister when South African stocks were severely devalued.

By that time the Zupta Corruption machine was long in action facilitated by the very same banks.

It is impossible that the banks only started to notice the suspicious transactions of the Guptas and their companies in 2016 as they now want us to believe. The truth is that these banks colluded in the looting of the country for as long as it was feeding into their profit maximisation motives and greed. These are the only driving forces behind the commercial banks. For them it's profit before people and the country.

We hope that Judge Zondo will not be fooled by their latter day self -cleansing exercise and crocodile tears shed on the witness stand for public consumption.

We call on the South African Reserve Bank and the Financial Intelligence Centre to launch a separate probe into the complicity of South African Banks in the Gupta state capture and why they turned a blind eye towards an obviously suspicious transactions before 2016 and to hold them accountable for their part in state capture.

If the SARB does not act, the EFF will initiate a parliamentary inquiry process.

Statement issued by Economic Freedom Fighters, 18 September 2018