- ANC chair and Minister of Mineral Resources, Gwede Mantashe, testified at the State Capture Inquiry and came to the ANC's defence
- According to Mantashe, the ANC only got involved with the drama between the Guptas and SA banks out of fear of job losses
- There were also suspicions that the banks had been captured by WMC (white monopoly capital)
Gwede Mantashe, ANC chair and Minister of Mineral Resources, came to the defence of the ruling party and says they did nothing terribly wrong.
Mantashe testified at the State Capture Inquiry and tried to defend the ANC's decisions regarding the Guptas and their bank accounts.
The Citizen reports that Mantashe said the ANC only intervened with South African banks about accounts of the Guptas because they were worried about job losses.
Mantashe also said there was fear that the banks had been captured by “white monopoly capital”.
During his testimony, Mantashe said 8 high-ranking officials approached him in 2016 about being forced to work with the Guptas and state capture.
Mantashe told of how he was told by the ANC's top 6 to meet with Absa, Nedbank, Standard Bank and FNB about the closure of the Guptas' accounts.
The Guptas wanted help with getting their accounts reopened and the ANC was told the closures would lead to 7 500 jobs being lost.
But ultimately, the ruling party realised it would be highly irregular and illegal to interfere.
Ultimately, the ANC realised it would be illegal to intervene in the Gupta saga with the banks.
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