Mineral resources minister Gwede Mantashe's assertion at the Zondo commission of inquiry that Oakbay Investments wanted the ANC to put pressure on the four banks to reopen their accounts because the closure would affect jobs, is absurd. More jobs are lost monthly in the mines through union members' strike action than what could have been anticipated at Oakbay. If the Financial Intelligence Centre was competent it would have acted on the R7bn in "suspicious and unusual transactions" involving Gupta family members and their companies. It is fascinating that pressure was brought to bear by Oakbay on the ANC about job losses. It is also intriguing that the ANC is not as concerned about job losses in the mining sector as it was about job losses at Oakbay. So unconcerned is the ANC about the economy and job losses that Mantashe, Jesse Duarte and former mineral resources minister Mosebenzi Zwane felt the need to directly approach the banks about Oakbay. Anyone believing Mantashe's story wo...
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