The “costly saga” of state institutions targeting South Africa’s Finance Minister has prompted a hard-hitting statement from the Banking Association of South Africa‚ which lashed out at the National Prosecuting Authority after its decision on Monday to withdraw the charges against Pravin Gordhan‚ former Sars commissioner Oupa Magashula and former deputy Sars Commissioner Ivan Pillay.
“We firmly believe the NPA failed to give reasonable consideration to the facts at hand before they proceeded to charge the Minister and the two other individuals. The NPA had to be aware of the potential economic consequences of its conduct‚ yet failed to consider this.
“Somebody has to be held accountable for this blot on our country’s reputation and we expect heads to roll.”
Cas Coovadia‚ the association’s MD‚ said: “We remain convinced that the conduct of the NPA and Hawks was extremely problematic and failed to consider‚ in any way‚ the national interest. It is now confirmed the charges were spurious and we must also not forget the theatrics of the NPA in announcing the charges.”
The association said while it was relieved that the NPA has made‚ belatedly‚ the correct decision‚ “the damage has already been done“.
“The economic impact immediately following the decision to lay charges was very negative and‚ although it has improved since‚ we again sent out a message that there are attempts at political influence on our critical institutions‚” the association charged.
“This was clearly a case of political persecution of the Minister of Finance. However‚ the Minister is vindicated by the decision of the NPA today.
“It is also proof that the Minister was correct in his initial response to the relevant authorities on this matter.”
The banking association said it has consistently maintained its support of the Minister and National Treasury and would continue to do so.
“It is critical to continue protecting our institutions‚ particularly‚ in the case of banking — the SA Reserve Bank‚ National Treasury and SA Revenue Service — and we will continue engaging stakeholders to do this in order to fight corruption and to maintain the global standing of the financial sector.”
Coovadia said: “The fight must continue against capture and corruption. The Minister has taken a clear stance on corruption and has continued to act in the best interests of the country to ensure that the state is not captured by forces attempting to loot the coffers‚ and he has our continued support”.
The association said: “We now call on all sectors of society to continue to demonstrate their support for the Minister and confidence in his leadership in executing his duties. The Minister now also requires the uninhibited support of the Cabinet and Government in its entirety“.
Coovadia added: “The Minister should be allowed and enabled to do his job without fear of political persecution“.
Heads must roll - NPA and Hawks conduct on Pravin Gordhan 'extremely problematic' - Banking Association
The “costly saga” of state institutions targeting South Africa’s Finance Minister has prompted a hard-hitting statement from the Banking Association of South Africa‚ which lashed out at the National Prosecuting Authority after its decision on Monday to withdraw the charges against Pravin Gordhan‚ former Sars commissioner Oupa Magashula and former deputy Sars Commissioner Ivan Pillay.
“We firmly believe the NPA failed to give reasonable consideration to the facts at hand before they proceeded to charge the Minister and the two other individuals. The NPA had to be aware of the potential economic consequences of its conduct‚ yet failed to consider this.
“Somebody has to be held accountable for this blot on our country’s reputation and we expect heads to roll.”
Cas Coovadia‚ the association’s MD‚ said: “We remain convinced that the conduct of the NPA and Hawks was extremely problematic and failed to consider‚ in any way‚ the national interest. It is now confirmed the charges were spurious and we must also not forget the theatrics of the NPA in announcing the charges.”
The association said while it was relieved that the NPA has made‚ belatedly‚ the correct decision‚ “the damage has already been done“.
“The economic impact immediately following the decision to lay charges was very negative and‚ although it has improved since‚ we again sent out a message that there are attempts at political influence on our critical institutions‚” the association charged.
“This was clearly a case of political persecution of the Minister of Finance. However‚ the Minister is vindicated by the decision of the NPA today.
“It is also proof that the Minister was correct in his initial response to the relevant authorities on this matter.”
The banking association said it has consistently maintained its support of the Minister and National Treasury and would continue to do so.
“It is critical to continue protecting our institutions‚ particularly‚ in the case of banking — the SA Reserve Bank‚ National Treasury and SA Revenue Service — and we will continue engaging stakeholders to do this in order to fight corruption and to maintain the global standing of the financial sector.”
Coovadia said: “The fight must continue against capture and corruption. The Minister has taken a clear stance on corruption and has continued to act in the best interests of the country to ensure that the state is not captured by forces attempting to loot the coffers‚ and he has our continued support”.
The association said: “We now call on all sectors of society to continue to demonstrate their support for the Minister and confidence in his leadership in executing his duties. The Minister now also requires the uninhibited support of the Cabinet and Government in its entirety“.
Coovadia added: “The Minister should be allowed and enabled to do his job without fear of political persecution“.
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