We agree with the PP ABSA must pay back the money! – MKMVA

Carl Niehaus notes with dismay persistent attacks by WMC on Busisiwe Mkhwebane over matter



Date: Friday, 1 December 2017

The Umkhonto we Sizwe Military Veterans Association (MKMVA) has noted with dismay the persistent attacks that are being launched by White Monopoly Capital (WMC) - and the mainstream media that they own - on the Public Protector, Advocate Busiswe Mkhwebane, for her principled insistence that the matter of the 125 billion Rand ‘lifeboat’ that was borrowed to ABSA by the Reserve Bank needs to be addressed and that ABSA must pay the money back.

We agree with the findings of the Public Protector that the South African government breached its constitutional duty to spend public money wisely when it made no effort to act on the findings of the 1997-1999 CIEX Report, in which it was found that the Reserve Bank irregularly gave money to Bankorp – a predecessor to ABSA.

It is important to note that the findings of the CIEX Report had now been known to government for over a decade and yet the government, and specifically the Reserve Bank, took no action to recover this huge amount of money. There can be no doubt any more that this so-called ‘financial aid’ that was given to Bankorp was grossly irregular and in fact illegal.

As MKMVA has pointed out in a media statement that we issued almost six months ago (on the 20th of June 2017), we agree with Advocate Mkhwebane when she pointed out that for government to have spent £600 000 on investigating this irregular ‘loan’, and then when receiving the results of the investigation to do absolutely nothing about it is contrary to the principles of Batho Pele (People First), in that there was no value derived from this money and it was thus wasteful expenditure. It is now half a year later and the fact that the money has not yet been recovered is nothing less than an outrage and a slap in the face of poor South Africans in general, and the South African tax payer in particular.

It is our belief that the apparent continuing inaction by government to take decisive steps to recover the money from ABSA is in contravention of Section 195 of the Constitution, which clearly calls for public administration to be governed by a high standard of ethics and accountability, and the efficient and effective use of resources. There can be no doubt that South Africans continue to be severely prejudiced by the apparent continued procrastination of government and specifically the Reserve Bank to recover the money. At this particular juncture in our history where there is an urgent need to address the legitimate demand of our long-suffering youth for free and quality education the recovery of this illconceived and in fact illegal loan to ABSA can go a long way to addressing this critical issue, and not doing so is the worst kind of dereliction of public duty truly and not an option.

It must be reiterated that the money that was given to ABSA belonged to the citizenry of South Africa and that the state’s failure to recover this huge amount of money continues to severely prejudice the people (especially poor Africans) because this money should benefit them instead of a mere handful of primarily white ABSA shareholders.

MKMVA has noted that since the Public Protector has made her findings about this matter public, and also referred the case to the Special Investigations Unit (SIU) and asked the SIU to request President Zuma to amend the relevant proclamation in order to facilitate their investigation and the recovery of the money, she has been subjected to vicious and slanderous personal attacks in the mainstream media.

We have no doubt that these attacks are well orchestrated specifically by ABSA, and by White Monopoly Capital in general. ABSA has clearly no intention to return to the public purse the ill-gotten loot that they have pocketed sadly with the complicity of the Reserve Bank, and now they are apparently hell-bent on destroying Advocate Mkhwebane’s reputation and ability to pursue them. These actions of ABSA and White Monopoly Capital demonstrate what we have maintained throughout that the control of our economy is in the hands of ruthless white monopoly capitalists who do not care one iota for the well-being and future of the majority of black (especially African) South Africans. They are unpatriotic and only concerned about the advancement of their own self-interests and the protection of their ill-gotten and vast financial wealth which they have accumulated through colonial looting and the theft of the land from the indigenous black (especially African) people who are the rightful owners.

With this media statement MKMVA gives notice to ABSA and their fellow White Monopoly Capital exploiters that we will not allow them to escape the consequences of their actions. We note their arrogance and the apparent hubris that they suffer from that they will be able to continue to hold onto the power that they derive from the vast ill begotten wealth that they have accumulated over centuries of thievery and unbridled exploitation of the majority of black South Africans. Together with all other concerned and progressive South Africans MKMVA will continue to relentlessly purse ABSA until the R 125 billion is paid back to the fiscus.

We demand that the State, and in particular the Reserve Bank stop procrastinating about this matter and take every possible step to recover the money. MKMVA will also not allow the Public Protector to continue to be subjected to the vicious and slanderous attacks that she has been subjected to.

It is our belief that the Public Protector showed herself to be a courageous patriotic South African who is vigilant about protecting government money. We salute Advocate Mkhwebane for her courage to have taken on ABSA and White Monopoly Capital in general, and she deserves our protection and support.

As MKMVA has done many times before we dedicate ourselves again to an economically just society where the majority of South Africans (Especially Africans) will be in control and fully share in the wealth of our country. That is why we have tirelessly dedicated ourselves to the pursuit of Radical Economic Transformation (RET), and it also why MKMVA has declared ourselves so unequivocally in favour of the candidature of comrade Nkosazana Dlamini Zuma for the presidency of the ANC. We find common course in her dedication to Radical Economic Transformation as expressed in her campaign slogan: “Radical Economic Transformation. Now or Never”

We as Umkhonto we Sizwe veterans joined the ANC in order to fight for the full liberation of our country. We will not rest until we live in an economically just and free society that is liberated from the oppression and exploitation of the likes of ABSA, and other companies and institutions representative of White Monopoly Capital.

Statement issued by Carl Niehaus, MKMVA National Executive Committee member and National Spokesperson, 1 December 2017