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Ray Hartley Editor: BusinessLIVE

You will not understand President Jacob Zuma’s actions unless you accept the somewhat depressing reality that South Africa now inhabits. Zuma may once have been master of his own destiny, but that point has long passed. He is now a wholly owned subsidiary of the vast Gupta network which has benefited from its association with him, his family, and the ministers and officials that he has put in place with their blessing. That is why Zuma is acting to clip the wings of Finance Minister Pravin Gordhan. Gordhan is at the centre of two matters which are rapidly coming to a head. The first is his court action seeking an order that he ought not to interfere in matters between the banks and their clients. South Africa’s banks – and others such as the Bank of China, for that matter – have all given the Gupta companies their marching orders because of their discomfort with certain transactions. This has led to a liquidity problem for the Guptas and that in turn has caused a liquidity problem f...

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