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South African Banks Must Answer to Zondo, Says Report

by Nigeria Currently
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It’s the worst-kept secret and the most ill-explored story of State Capture: The role played by South African banks. Now, for the first time, a comprehensive report has been handed to the State Capture Commission calling for some banks whose fingerprints are all over tainted deals or cross-border money flows to be among those hauled before Judge Raymond Zondo.

From Bosasa to Estina, Transnet and Eskom, compromised civil servants and political bigwigs have hogged the State Capture headlines.

But, bar few exceptions – McKinsey & Co, Bain and KPMG, Regiments Capital and Trillian – other professional service entities, particularly banks and lawyers, have escaped largely unscathed amid the noisy strikes against the Guptas and their cronies across the civil service.

Now, for the first time, the spotlight has turned on some South African and international corporate giants with findings and recommendations compiled in book form by Open Secrets and Shadow World Investigations.

Titled The Enablers, the 134-page book focuses particularly on the role of banks, consultants and lawyers and the conduct of some who may have facilitated, knowingly or unknowingly, criminal conduct that formed part of the State Capture enterprise.

First published by the Financial Mail, the full report was…

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