The ANC Women’s League and Black First Land First have called\u00a0on Public Protector\u00a0Busisiwe Mkhwebane to conduct a\u00a0full-scale\u00a0investigation into apartheid-era state looting, following\u00a0a preliminary report indicating Absa owed\u00a0R2.25 billion\u00a0it received as part of an unlawful apartheid-era bailout.<\/p>\n
The\u00a0preliminary report which was leaked to media this past week indicates that over\u00a0R24 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\u00a0UK-based asset recovery agency,\u00a0CIEX.<\/p>\n
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”.<\/p>\n
“All beneficiaries of this looting must pay in full and with interests on all that they have looted”.<\/p>\n
This was echoed by\u00a0Black First Land First who stated it was not just Absa who was implicated in the apartheid-era\u2019s unlawful bailout.<\/p>\n
\u201cA 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.<\/p>\n
“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 \u2013 like the issues of unemployment and free education.\u201d<\/p>\n
Both groups have reportedly made an official submission to\u00a0President 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.<\/p>\n