Mboweni: state capture was one of the "greatest heists of our time"

Mboweni: state capture was one of the "greatest heists of our time"

State capture is one of the "greatest heists of our times." This is according to Tito Mboweni, the finance minister. Mboweni made these comments while speaking at the Lesotho Institute of Accountants in Maseru on Thursday.

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He also spoke of the need to protect the credibility of National Treasury.

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Briefly.co.za gathered that Mboweni said a businessman worked out a scheme where they would make friends with a sitting president of the country and would then use his name to cascade down the state institutions. Ultimately, this person would then end up corrupting a whole layer of people, stealing billions in the process.

It was the first time the newly appointed finance minister spoke publicly on the state capture matter.

According to The Sowetan, state capture led to former president Jacob Zuma appointing the Zondo commission to investigate the extent of the problem.

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The commission was established after it was found the Guptas, friends of Zuma, used his name to get business worth billions of rands from the government and state entities.

Mboweni then said his institution, National Treasury, can't be compromised. He added treasury also won't employ people who could possibly stage another heist.

The finance minister also touched on the fact that stealing was made easy, because those who were well connected would get undue tax breaks.

He cited how these people would phone a minister of finance and accuse employees of SARS of giving them troubles.

"The minister of finance will then phone the head of revenue and say why are you problematic... leave Mr Mahommed alone."

Mboweni said SARS needed to be credible, warning that such attitudes were dangerous.

Mboweni was once a student of the University of Lesotho. It was there that he completed his honours degree in economics and politics.

Mboweni was set to peak at the university before his appointment as finance minister.

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Source: Briefly.co.za

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