Mantashe tells of ANC talks with banks on closure of Gupta accounts
The Guptas’ Oakbay Investments wanted the ANC to put pressure on the country’s big four banks to reopen their accounts. That is according to former ANC secretary-general Gwede Mantashe, who led a party delegation that met with the banks in 2016 after the closure of the accounts. Mantashe was testifying at the state-capture commission on Tuesday in response to testimony by Absa, Standard Bank, Nedbank and First National Bank. He is the first ANC leader to appear before the commission. The banks were called to meetings at the ANC’s Luthuli House headquarters in Johannesburg by Mantashe, his deputy Jessie Duarte and head of the economic transformation subcommittee Enoch Godongwana. FNB was the only bank that did not meet the ANC officials.
From February to September 2016, the four banks closed the bank accounts of the Gupta family and their companies. The family was seen as politically exposed. Altogether R7bn in “suspicious and unusual” transactions involving Gupta family member...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.