The SACP has warned of a "nasty"  fightback campaign by those implicated in allegations of corruption.

The party said the fightback campaign was not essentially directed at President Cyril Ramaphosa or Public Enterprises Minister Pravin Gordhan. 

"The clean-up endeavour is only just beginning, but as can be expected, given the huge stakes at play, there is now a nasty fightback campaign led by recalcitrant elements within our movement and implicated senior SOC (state-owned corporations) managers under the false flag of black nationalism and a pretence at fighting neo-liberalism. Some of this degenerate fightback has focused on Gordhan personally and has even descended into black chauvinism and racist slurs," SACP leader Blade Nzimande said on Sunday.

Nzimande said the plundering of state-owned corporations resources amounting to billions of rands was emerging daily.

"We expect more [will] emerge with ongoing criminal investigations and with the commencement this week of the commission of inquiry into state capture. Those implicated in this plundering include members of company boards, politicians, senior managers, private companies, both established as well as some black-owned companies, often all operating in sophisticated syndicates. Much, but not all of it, is linked to the Gupta family and associates. There is also evidence of collusion in all of this on the part of multinational auditing firms," he said.

Nzimande and other senior leaders  of the SACP were addressing  the media after the outcome of their  two-day central committee meeting in Kempton Park, Ekurhuleni.

The SACP has pledged to be a steadfast ally in the struggle against parasitic looting. Nzimande said the problems within state-owned corporations did not just begin with the Gupta-associated, parasitic assault of the past decade.

"Many of the present problems can also be traced back to the ill-advised, neo-liberal turn taken by government in the mid-1990s." he said.