Mosebenzi Zwane, former mineral resources minister, effectively acted as a direct emissary in former president Jacob Zuma's Cabinet for the Gupta family, the Zondo Commission heard on Monday, as Standard Bank's former group general counsel Ian Sinton appeared to explain why it had shuttered the Guptas' banking facilities in 2016. The latest revelations of how Zwane operated almost solely to fix for the Guptas show, how he attempted to bully the banks and shook down the commodities trader Glencore when the Guptas wanted to buy its Optimum coal mine.
Former mineral resources minister Mosebenzi Zwane, who is now an ANC MP, threatened Standard Bank South Africa's operating licence, the Zondo Commission of Inquiry into State Capture heard on Monday.
In addition, he threatened the bank with legislation which would disallow it from closing accounts, a practice unheard of in modern economies with credible banking systems.
Zwane effectively acted as a direct emissary in former president Jacob Zuma's cabinet for the...