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The ANC only met with banks at Oakbay’s behest because of the pressure that the governing party was placed under as a result of the latter’s accounts being frozen, explained ANC chairperson and Mineral Resources Minister Gwede Mantashe.
The minister was making submissions for the ruling party before the state capture commission on Tuesday.
Mantashe testified that Oakbay had approached the ANC and informed the party of the possible loss of jobs as a result of the closure of the company’s accounts by banks in the country.
The minister also explained that many black businesses, particularly black economically empowered businesses, had put pressure on the party, “saying the closure of Oakbay’s account was a dangerous precedent for black business”.
Mantashe also revealed that the ANC national working committee had determined that he, as the secretary-general at the time, and his delegation would engage the banks based on three criteria.
“The first concern was the looming job losses, the second was based on the perception that banks were colluding in their action, as well as based on the fact that the banks were seen to be acting against a black business,” said Mantashe.
He revealed that the delegation that met with Oakbay representatives included himself, ANC deputy secretary-general Jessie Duarte and then party head of economic transformation Enoch Godongwana, as well as a legal representative.
When asked by the commission’s legal team whether the party was aware at the time of meeting with the banks and Oakbay that Duduzane Zuma was a business partner at Oakbay.
Mantashe said yes, “this was common knowledge”.
He, however, was at pains to explain that there was nothing untoward with the meetings with the banks and the ANC was motivated by the public outcry over the actions of the banks that seemed like “white monopoly capital exerting undue influence on a black-owned company”.
At the beginning of his testimony, Mantashe read an opening statement to the commission on behalf of the ANC announcing the governing party’s plans to dispel wide-ranging allegations made at the commission, including assertions that its members lobbied on behalf of Gupta interests and the personal interests of former president Jacob Zuma.
During his testimony Mantashe said party members were becoming aware of the Gupta family’s influence on prominent ANC members, and that it was spreading.
He explained that the party put in place measures to address this. This resulted in its members committing to setting up an independent structure, which resulted in the establishment of the commission.
The commission’s legal team, however, challenged this narrative, asking if the commission was not set up as a result of numerous court applications by civil society and opposition parties.
To this Mantashe argued that the applications may have piled on the pressure but the ANC had already taken the resolution to set up a commission.
He also argued that had the commission not been set up during the last administration, on his election President Cyril Ramaphosa would have set it up upon taking up office.
Mantashe also confirmed that Ramaphosa as well as Duarte were set to make submissions before the commission at a later stage.
