Gordhan: 'Zwane's statement on Gupta bank account closures reckless'

Mosebenzi Zwane said that Cabinet had resolved on a judicial inquiry to look into the banks' decision but then President Jacob Zuma distanced himself from the minister’s remarks, saying that he was not speaking on behalf of the Cabinet.

FILE: Former Mineral Resources Minister Mosebenzi Zwane. Picture: GCIS

JOHANNESBURG – Pubic Enterprises Minister Pravin Gordhan has described as sheer recklessness the statement released by former Mineral Resources Minister Mosebenzi Zwane in 2016 saying that government would establish an inquiry into the decision of several banks to cut ties with businesses owned by the Gupta family.

Gordhan is concluding his testimony at the state capture commission on Wednesday.

When the banks cut ties with the controversial family two years ago, former President Jacob Zuma established a task team led by Zwane to look into the matter.

Zwane said that Cabinet had resolved on a judicial inquiry to look into the banks' decision but Zuma distanced himself from the minister’s remarks, saying that he was not speaking on behalf of the Cabinet.

Gordhan says Zwane's actions were reckless.

“I think what 719 reveals, chair, is the sheer recklessness of the kind of statements that are made as in 717 and if you look at the last paragraph, 719, then after the recklessness had occurred, suddenly we realised we have investors, we've got the banking system that we need to secure and then we'll offer reassurances and then everything is fine.”

WATCH: #StateCaptureInquiry: Gordhan continues giving evidence

(Edited by Leeto M KHoza)