STUART THEOBALD: ANC is fast squandering the trust currency Reserve Bank has built
HOW awkward must it have been for President Jacob Zuma and Finance Minister Pravin Gordhan at Group of 20 (G-20) summit in China? The organisation is one of the key forums for the development of global financial regulation. It brings together governments and central bankers for an annual talk shop aimed to strengthen the global system and support economic growth. SA has long been a core member. It is precisely because of the G-20 that SA has implemented the tough antimoney-laundering regulations that have seen the Guptas frozen out of the financial system.But while Gordhan and Zuma were promising that SA would remain a model of excellent financial regulation, Zuma’s mining minister, Mosebenzi Zwane, was trying to unleash hellfire on the critical institutions of that system. He announced, in an outright lie, that the Cabinet had resolved to undertake a wide review of how the way the whole financial system in SA works.This was because one family, the Guptas, has fallen foul of the ban...
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