It was IMC and not Cabinet pushing for banking inquiry - Zwane's spokesperson

It appears that a mistake was made today after the inter-ministerial committee led by Mineral and Energies Minister Mosebenzi Zwane set up to probe South Africa’s banks, released a statement saying Cabinet has now recommended that President Zuma should establish a judicial inquiry.

Department of Mineral Resources spokesperson Martin Madlala says the judicial inquiry into the banks was proposed because the Inter-ministerial Committee (IMC) felt the matter was important to investigate further.

The judicial commission will have some extended powers to investigate that the IMC (inter-ministerial committee) doesn't have necessarily. And to extend the investigation will produce some additional results that will be beneficial to the country.

Martin Madlala, Mineral Resources spokesperson

Asked by Xolani Gwala if he accepts that it is misleading to say the resolution comes from the Cabinet, when it in fact it came from the IMC, Madlala admitted this to be true and said:

In so far yes it is.

Martin Madlala, Mineral Resources spokesperson

Listen to the full interview below...

Read More
10 business tips to boost you through a tough economy

10 business tips to boost you through a tough economy

Business growth specialist, Pavlo Phitidi tracks down previously profiled businesses and advises them on their next level growth.

Zuma lashes out at 101 ANC stalwarts in policy conference opening salvo

Zuma lashes out at 101 ANC stalwarts in policy conference opening salvo

President Zuma went 'off script' on Friday when he castigated his detractors saying many denied being on the 101 stalwarts list.

Explore the magic of Madeira at the Caravela Portuguese Festival

Explore the magic of Madeira at the Caravela Portuguese Festival

This weekend, all roads lead to the magical Madeira Day festivities at Montecasino.

"Whackhead" Simpson's song about Carl Niehaus was one of Redi's faves

"Whackhead" Simpson's song about Carl Niehaus was one of Redi's faves

In 2009 Carl Niehaus was forced to step down as ANC national spokesperson after fraud allegations surfaced.

"Our interpretation of sleeping around is sleeping around"

"Our interpretation of sleeping around is sleeping around"

A throwback to Floyd Shivambu talking about Helen Zille during his ANCYL days, interrogated by Redi Tlhabi in 2009. #FarewellRedi

Mr. Tlhabi bids Mrs Tlhabi farewell on her last radio show #FarewellRedi

Mr. Tlhabi bids Mrs Tlhabi farewell on her last radio show #FarewellRedi

Brian Tlhabi says his wife, Redi Tlhabi makes him super happy and continues to wish her the best with her future endeavours.

Popular articles
Getting to know MP, Dr Makhosi Khoza

Getting to know MP, Dr Makhosi Khoza

Dr Khoza is admired by South Africans for her role in the SABC inquiry as a ANC member of parliament.

No escaping the tax man even if you work outside SA

No escaping the tax man even if you work outside SA

Government is intending to change the way foreign income is taxed by introducing taxes to a large South African diaspora.

Earn peanuts? How to best invest very small amounts...

Earn peanuts? How to best invest very small amounts...

Got a spare R200 or R300 a month? Here’s how to make that money work hard and grow…

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

How to make your first million

How to make your first million

Warren Ingram discusses his new book in which he shares practical ways for ordinary people to achieve financial freedom.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?