Public Protector Makes Waves With State Capture, Apartheid Bailout Reports

How the money moved

The Public Protector, a constitutionally-mandated watchdog, released the report in November previous year, after an extensive probe over allegations of influence-peddling against Zuma, whose administration has been marred by scandals.

The DA states that Mkhwebane has yet to deliver investigation reports based on complaints laid against the Gupta family almost a year ago and that this silence has led to serious doubts surrounding her objectivity and neutrality.

In a press briefing on Monday, Mkhwebane said government and the South African Reserve Bank failed to act on the findings of the Ciex report.

"The South African Reserve Bank (Sarb) is still studying the Public Protector's report on the loan granted to Bankorp and will thereafter announce its response to the findings and remedial actions", the bank said in a statement.

South Africa's graft ombudsman said she will oppose a lawsuit filed by President Jacob Zuma aimed at overturning a report drafted by her predecessor that indicated he may have breached the government's code of ethics in his dealings with members of the Gupta family. Comrades who were in government when the CIEX report came out where defensive when it came to this matter. The price was R1.23 billion and was paid directly to Bankorp shareholders which is why Absa should not be expected to pay again.

She wants the Constitution to be amended to ensure that the mandate of the Bank promotes economic growth and not only protects the value of the rand exchange rate.

Ratings agencies have previously cited the independence of the Reserve Bank as one of the institutional strengths that counts in the country's favour. CIEX Limited was paid 600,000 British Pounds for services which were never used by the South African government. In the preliminary, Absa is found to have banked R1.25-billion plus interest over two decades.

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