Calls for a full scale investigation into R26 billion in apartheid-era bailouts
The ANC Women’s League and Black First Land First have called on Public Protector Busisiwe Mkhwebane to conduct a full-scale investigation into apartheid-era state looting, following a preliminary report indicating Absa owed R2.25 billion it received as part of an unlawful apartheid-era bailout.
The preliminary report which was leaked to media this past week indicates that over R24 billion was unlawfully given out to Bankorp from 1985 to 1992 by the South African Reserve Bank. It then provided Absa with a further R2.25 billion in bailouts from 1992 to 1995 according to UK-based asset recovery agency, CIEX.
Whilst Absa was the main focus of the leaked report, the ANCWL has now urged the Public Protector to launch a full scale investigation on CIEX report so that “all those implicated in the report be brought to book”.
“All beneficiaries of this looting must pay in full and with interests on all that they have looted”.
This was echoed by Black First Land First who stated it was not just Absa who was implicated in the apartheid-era’s unlawful bailout.
“A report was submitted to former president Thabo Mbeki by a private investigator in the UK, which revealed that he could trace R26 billion stolen by apartheid leaders and placed offshore,” BFLF said.
“We want that R26 billion,because [it] is going to solve a lot issues that are facing the majority, and a lot of issues that characterise the black condition – like the issues of unemployment and free education.”
Both groups have reportedly made an official submission to President Zuma, appealing him to institute an inquiry into CIEX, and other cases related to looting of State resources by the apartheid government and Capture of State owned entities.
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