South Africa: Banks Tell Inquiry of Their Resistance to Zwane's Bullying Tactics

Video screenshot of the Zondo Commission of Inquiry (file photo).
analysis

So outrageous was political and executive meddling in bank/client relationships that ABSA refused to meet with an inter-ministerial task team headed by Mosebenzi Zwane. That's because the bank could not get assurances from Zwane's office that the proposed meeting would take place within the bounds of the law.

Former ANC secretary-general Gwede Mantashe cornered ABSA CEO, Maria Ramos, at a gathering of Business Leadership South Africa for a meeting with senior party officials where they allegedly tried to unlawfully raise the Guptas' banking woes.

So outrageous was political and executive meddling in bank/client relationships that ABSA refused to meet with an inter-ministerial task team headed by Mosebenzi Zwane. That's because the bank could not get assurances from Zwane's office that the proposed meeting would take place within the bounds of the law.

But, like Standard Bank's CEO Sim Tshabalala, Ramos agreed to visit Luthuli House along with senior colleagues, having secured strict conditions for the meeting and a guarantee that no...

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