Absa lifeboat: Mbeki ‘and his gang protecting white capital’

Black First Land First (BLF) leader Andile Mngxitama accused former president Thabo Mbeki of protecting “white capital” on Friday morning.

This after the Mail & Guardian revealed the former president denied that government was responsible for failing to recover billions of rands that flowed from unlawful apartheid-era bailouts.

Mbeki told former public protector Thuli Madonsela that, as a former head of state, he could not answer questions relating to decisions that were taken by the SA Reserve Bank (Sarb).

For Mngxitama, Mbeki and “his gang” are protecting what he calls white capital.  “There we go, Mbeki and his gang protecting white capital,” said the BLF leader.

The BLF further called on former finance minister Trevor Manuel and former Sarb governor Tito Mboweni to apologise to the nation “for failing to protect national assets”.

“The three politicians were entrusted by the nation, by virtue of their positions at the time, to be guardians of and to safeguard the wealth of the nation. The leaked report of the public protector on the investigation of the ‘lifeboats’ to Bankcorp [sic] confirms that the three had unethically and possibly illegally protected white capital from paying back the R26 billion stolen from the Sarb.

“Mbeki, Manuel and Mboweni are on record for saying that while they knew and accepted that Absa, amongst others, had unduly benefited from the illegal activities surrounding the ‘lifeboats’ saga, they didn’t take action because they had decided that such action would negatively affect the banking system and consequently the economy. Such reasoning is not just irrational but served to abate the institution of the necessary criminal actions. To this end, the conduct of the said three people must be condemned by all those who are ethical and genuinely against corruption.

“Mbeki, Manuel and Mboweni must apologise to the nation for such faulty reasoning or confess that they were merely defending the interests of white settler monopoly capital.

“The rationale for this call by BLF is made urgent by the public announcement of Billy Masetlha, the former head of the South African National Intelligence Agency, that he was misled by the trio into not pursuing the Absa billions.

“This is a genuine admission by a civil servant who took his responsibilities seriously. It’s our hope that Mbeki, Manuel and Mboweni shall now follow suit. They must admit the error of their judgment and implore Absa to stop wasting time and pay back the money.”

The Thabo Mbeki Foundation said it was unable to comment on the leaked preliminary report of public protector Busisiwe Mkhwebane. The foundation said it was still waiting for the copy of the report, which it would then “study” and “determine an appropriate response once we have received it”.

“To the extent that the report concerns government decisions when president Thabo Mbeki served together with other leaders in government, the foundation is unable to comment at this stage since no state organ has as yet furnished President Mbeki with a copy of the report.