The president is right. There is something deeply suspicious about all four of the big banks withdrawing their services from the Gupta family firms in the same week as audit firm KPMG ran screaming from its contractual obligations. I do, however, suspect the president is barking up the wrong tree in his attempt in parliament this week to sniff out a conspiracy. The explosive October affidavit filed by Finance Minister Pravin Gordhan justifying his decision to not meddle in the commercial decisions of independently regulated financial institutions pointed to some R6.8-billion in suspicious transactions. The president again this week threatened a commission of inquiry into the banks. One wonders how that would go down at a Friday knees-up at the Saxonwold shebeen. All of this is a sideshow to the real issue South Africa faces right now. The country sits like a death-row inmate appealing for clemency as the execution date nears, hoping against hope for a reprieve from a ratings downgra...
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