Zuko Komisa
ATM slams SARB’s findings into Phala Phala calling it a cover-up for Ramaphosa.
Lesetja Kganyago, governor of the South African Reserve Bank (Sarb), defended the bank’s Phala Phala probe, claiming they did so without fear or favor.
Ramaphosa and his Phala Phala farm were given a free pass by Kganyago and the reserve bank, according to MPs in the Standing Committee on Finance, who called the probe a “cover-up” and a “whitewash.”
Point of View with Phemelo Motene spoke to African Transformation Movement Leader, Vuyo Zungula who expressed how they were dissatisfied with the South African Reserve Bank (Sarb)’s finding into the Phala Phala.
Listen to the full conversation here:
Kganyago told MPs that because the foreign currency was stolen before all the necessary agreements (including among others, informing the state vet to conduct tests on the animals and getting travel permits from the Department of Agriculture) were finalised, the sale was incomplete.
On the report being kept confidential
“The governor said they won’t release the report as there are some confidentiality clauses, they are not willing to come out openly. They are not willing to disclose what informed that decision,” said Zungula,
On the way forward
“We have launched a PAIA application to SARS so that we can get to see all the documents and see what led to that particular conclusion. We have also launched it on the tax records, as it is those records that are very critical because it can’t be that there is going to be a transaction that recorded and the applicable taxes are paid, however, SARS another tax institution is saying that close corporation was not entitled to the money.” said Zungula,
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