Absa must pay back the money - Gwede Mantashe

The Reserve Bank has said it will go to court to review the Public Protector, Busisiwe Mkhwebane's recommendations that she wants the Constitution to be amended to change the mandate of the Reserve Bank.

The Reserve Bank says the Public Protector has acted beyond her powers.

This follows Mkhwebane's final report that Absa bBankand its predecessor Bankorp unduly benefited from an apartheid-era Reserve Bank bailout.

Mkhwebane has recommended that the Special Investigating Unit (SIU) should recover public funds to the tune of R1.125 billion from the apartheid era

Secretary-general of the ANC, Gwede Mantashe, says Absa must pay back the money. He says the Reserve Bank is right in reviewing Mkhwebane's recommendations.

LISTEN: Public Protector defends call for Constitutional changes

The mistake we can commit in South Africa is to play around with its credibility and if we loose that credibility we will battle economically.

Gwede Mantashe, Secretary-general of the ANC

Mantashe says the Public Protector's findings will not affect the policy conference of the ANC which will be held 30 June -5 July 2017.

Meanwhile, chair of Parliament’s justice and correctional services portfolio committee, Mathole Motshekga says he is not surprised by Mkhwebane's recommendations asking this portfolio committee to act.

He says the committee is informed by how Parliament works and it is up to the office of the Speaker of Parliament to make a decision on how this matter will be handled.

Whichever structure Parliament decides on must give attention to the remedial action proposed by the Public PProtector.

Mathole Motshekga, chair of Parliament’s justice and correctional services portfolio committee

The SA Reserve Bank has decided to take the remedial action on review and that is part of our constitutional processes and that's the only our constitutional democracy can grow.

Mathole Motshekga, chair of Parliament’s justice and correctional services portfolio committee

To hear more of this interview with Gwede Mantashe, listen below:

To hear more from Mathole Motshekga, listen below:


This article first appeared on CapeTalk : Absa must pay back the money - Gwede Mantashe


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