SA watchdog to oppose Zuma's bid to set aside influence peddling report

Mkhwebane was speaking during a media briefing held in Pretoria on Monday.

Mkhwebane said the changes in the final report were made as a result of responses from parties who were implicated in the report - including the treasury, the presidency, the Reserve Bank and Absa.

In her 355-page report released on November 2 past year, former Public Protector Thuli Madonsela said Zuma and some of his ministers may have allowed the Guptas, who are in business with the president's son, to influence the appointment of cabinet members and given them special treatment to enable them to buy a coal business.

"The allegation whether the South African government improperly failed to implement the CIEX report ... after commissioning and duly paying for same is substantiated".

The NGO says the bailout was illegal and there was evidence of maladministration by the new South African government. The price was R1.23 billion and was paid directly to Bankorp shareholders which is why Absa should not be expected to pay again. Instead of directing that the money be recovered with interest, Mkhwebane has now instructed the Special Investigating Unit (SIU) to reopen a probe into the matter.


She ordered steps to be taken enabling the government to recover R1.125 billion in misappropriated public funds from ABSA Bank.

The requirements for a constitutional change that would shift the Reserve Bank's mandate from protecting the value of the rand in favour of the socio-economic wellbeing of citizens was unlikely‚ Nomura's emerging-markets investment economist Peter Attard Montalto said.

South African bonds weakened on Monday afternoon in line with the rand, which in turn, was affected by local political concerns.

These allegations point to improper or dishonest acts or offences with respect to public funds at the state-owned enterprises as well as well as improper or unlawful enrichment by certain public officials at these institutions.

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