2 November 1999
The SACP has learnt with dismay and complete disbelief of the decision of the Heath Investigation Unit not to take legal steps against ABSA. This is despite the fact that the Heath Unit had come to the conclusion that the bailout from the Reserve Bank was both irregular and possibly illegal. We find this whole episode morally outrageous as it threatens to undermine all good efforts at exposing and fighting corruption.
This is a blatant example of the extent to which our country remains hostage to the interests of big finance capital. Even more serious, this illustrates the degree to which our society is still characterised by two kinds of morality – one set of standards for the rich, another for the poor. This is all the more repugnant given the fact that millions of Rand of state money was being used to bankroll a sector that still remains inaccessible to the majority of people of South Africa. One cannot help but be reminded of the words of one famous poet, to the effect that “if a sea robber is small he is called a pirate, if he’s big he is called an Admiral”.
The SACP calls for a full exposure of, and explanation from, both ABSA and those in the Reserve Bank who were responsible for this travesty. The people of this country, who must be the final arbiters and judges, are entitled to know the full facts and circumstances surrounding this entire arrangement. We therefore call for the entire Heath Unit Report to be made public. We cannot place the fate of South Africans solely in the hands of the financial markets.
Issued by the SACP Department of Information & Publicity
Dr. Blade Nzimande SACP General Secretary
E-Mail: sacp1@wn.apc.org
South African Communist Party Head Office
COSATU House
No. 1 Leyds Street - 7th Floor
Braamfontein 2001
Republic of South Africa
(Tel: 27 11 339-3621/2)
(Fax: 27 11 339-4244)