ANCYL: Money given to ABSA must fund free education
The ANC Youth League (ANCYL) believes it has been vindicated by the Public Protector Busiswe Mkhwebane's report into an apartheid-era bailout given to ABSA.
Mkhwebane says the funds where unlawfully given to Bankorp by the Reserve Bank. Bankorp was later purchased by ABSA.
She has now recommended that the Special Investigating Unit recover the R1.1 billion from ABSA.
ANCYL President Collin Maine says they are willing to work with Mkhwebane to ensure the money is paid back.
“The findings of her report agrees with our views. Comrades who were in government when the CIEX report came out where defensive when it came to this matter. We will work side-by-side with the Public Protector. We know ABSA will try and challenge this legally and we will join as a friend of the court to challenge them. We believe they must pay back the money so it can be used to fund free education."
Maine says state capture is not a new phenomenon and everyone, including the Gupta family, should be investigated.
“State capture started a long time ago. We are suggesting that the inquiry into state capture must start from 1991, just before democracy and the activities of the regime then. We are not protecting anybody, including the Guptas. They must also be investigated,” says Maine.