British politician says financial system played role in state capture

British politician says financial system played role in state capture

- A British politician claims that the international financial system played a role in allowing state capture to take place

- He says that several international corporations were happy to profit from business with corruption-linked companies

- The politician, Lord Peter Hain, has called on the international community to support Cyril Ramaphosa in combating corruption

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British politician Lord Peter Hain says that funds looted by the Guptas from state-owned enterprises must be returned to South Africa.

Hain made the remarks in his keynote address at the South African Property Owner's Association (Sapoa) on Wednesday in Cape Town.

Hain, who was born in South Africa, is a former anti-apartheid activist who has now taken up the issue of state capture.

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Additionally, Hain said that the international financial system had contributed to some of this state looting taking place. For example, he said that several international companies took part "in this corruption business under President Zuma and the Gupta brothers", according to The Citizen.

Hain also slammed Bell Pottinger, the agency which created what Hain refers to as "vile, racist campaigns on behalf of the Zumarites and Guptarites". Bell Pottinger coined the phrase 'white monopoly capital', among other campaigns ostensibly aimed at directing attention away from Zuma and the Guptas. 

Hain says that after he called on the British government to take action against Bell Pottinger, the agency went bankrupt within days, has gathered.

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However, Hain called for more to be done to fight corruption in South Africa. He urged the international business community to lend Cyril Ramaphosa its support in resisting state capture.

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