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Mantashe: Guptas wanted ANC to put pressure on banks to reopen accounts

Earlier, some of the country’s biggest banks testified at the Zondo commission that its executives were called to a meeting at Luthuli House after they stopped doing business with the Gupta family.

A video screengrab of ANC chairperson Gwede Mantashe at the commission of inquiry into state capture in Parktown, Johannesburg, on 27 November 2018. Picture: YouTube

JOHANNESBURG – African National Congress (ANC) chairperson Gwede Mantashe has told the state capture commission that the Gupta-owned Oakbay company wanted the party to put pressure on the banks that closed their accounts with the family’s businesses to reopen them.

Mantashe was testifying at the inquiry on behalf of the ANC.

Earlier, some of the country’s biggest banks testified that its executives were called to a meeting at Luthuli House after they stopped doing business with the Gupta family.

Mantashe told the commission that the ANC didn’t just wake up one day and call for a meeting with the banks that closed the accounts of Gupta businesses.

He says because the party was concerned about potential job losses and the fact that the banks' decisions may set a dangerous precedent for black businesses, the ANC met with Oakbay.

“They wanted every institution, including the ANC, to put pressure on the banks to open their accounts.”

Mantashe also spoke about the meeting between the ANC and the banks.

“We came to a decision that we cannot just talk about jobs, we must also emphasise the importance of complying with the regulations and the rules.”

He says after that meeting, the ANC understood and accepted the basis for the bank’s decision to close the accounts of Gupta businesses.

Opening Statement by Mr Gwede Mantashe by Primedia Broadcasting on Scribd

(Edited by Thapelo Lekabe)

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