WMC allies scared over Public protector’s CIEX report; DA giving it’s all in getting her off

WMC is feeling an array of troubles in the wake of some recent happenings, which went against them. The same is in the case of Public Protector Busisiwe Mkhwebane,as per the report published on WMCleaks, where they stood a chance of being proved guilty, if public protector’s recommendation for inquiry into the CIEX Report are accepted by the Parliament. On the other hand, DA is trying its level best to prove the Public protector as Unfit to serve the office of the same. Though, this report signifies towards the corruption which started long back from back to the apartheid era, when the WMC powered BFSI vertical which includes ABSA, Ned Bank, Rembrandt Group and the Anglo American Corporation together. There all were indulged in unauthorized exploiting of the resources from SARB.

Busisiwe Mkhwebane

It must be noted that with Mkhwebane taking the charge afterwards, the bad days got started for the WMC lobby. We hereby look into a detailed report stating how WMC along with DA was involved in looting this country’s wealth and what’s the reason behind their panic with the report filed by the public protector. Following are the key points in the report:

  • Johann Rupert-Led Afrikaner Broederbondin were involved in the exploitation of cheap capital borrowed from the SARB and then investing the same in government bonds to make undue profits from the interest rate margins during the period between 1997 to 1999.
  • The Afrikaner Broederbond, a secret Afrikaner white male organization which involves Dutch Reformed Church, French Huguenot and German colonizers, were  on a mission to push white businesses by holding public sector offices to release by trading state sponsored profits like cheap business credit from the SARB for bribes and recommendations for promotions of white lobbyists in return. It was a disgraceful implementation of PPP– public funding of private projects.

ABSA’s role in the Dirty Picture

Even ABSA was involved heavily in the corrupt act which is confirmed by following key points:

  • The Dirty picture commences with SARB  printing excess currency notes worth  Rand 1.5 billion. This act weakens the value of the RAND in the process.
  • SARB provided a business loan of Rand 1.5 billion to Banbol at a very cheap interest rate of 1% in an array of transaction started in 1995.
  • Banbol, an investment company of Bankorp secured this loan aid from SARB. Moreover Bankcorp didn’t show the same in its account books which confirms it being Illegal.
  • Bankorp, then divided the amount of Rand 1.5 billion into two parts. They invested the first part of Rand 400 million in the SARB at an interest rate of 16%. The rest Rand 1.1 billion was being invested in government bonds that gave returns at an annuity of 16%.
  • Bankorp then earned a profit of Rand 225 million per year over a period of five years Using the interest rate margins through an illegal act of arbitrage of capital,. They earned  a total profit of  approx Rand 2.25 billion over two decades along with interest unpaid.
  • The Same Bankorp was then taken over by ABSA and then reframed into Barclays Bank of South Africa. Barclays Bank South Africa is still liable for the repayment of the lifeboat assistance and  the cumulative interest .

Johann Rupert getting benefitted from SARB scam

The CIEX Report also confirms the name of Johann Rupert, the Director of ABSA. Being benefitted from the undue arbitrage of cheap state owned capital. He was being charged by a lot of corruptive acts which sums up as follows:

  1. The Report claims the Recovery of all the money which Rupert recovered illegally from lifeboat subventions including those from the estate of Anton Rupert
  2. Compensations coming  from his commission of criminal anti people offences (fraud, embezzlement, corruption, breach of the Company’s Act, offences relating to insider trading).

DA (Democratic Alliance) : The Standout WMC stooge

DA has once again proved by demanding the removal of Public protector from its office that they are still backing WMC. Even after knowing the disgrace, the Johann rupert’s stooges has brought to this country over the years. A itself being one of them is clearly proving its loyalty for WMC and playing with the minds of the natives by making foolish claims and showing fake propagandas.

Moreover, the Public protector must be lauded for her efforts of taking a guard against all the corruptive acts by WMC and its allies since the decades in looting the country’s resources without a stop.

  • Keorapetse Mahlobo

    DA shall now stop calling themselves a “Peoples Party”, instead name themselves “Ruperts Party” !

    • Adebo SA

      Disgraceful Alliance” should be their new name. They fully deserve it.

  • Felleng Uzalo

    Public Protector is protecting the country,now country shall protect the Public protector. I stand by Busisiwe Mkhwebane.

    • Drjoe Attatta

      I too give my support to her.She is taking a stand against all those dirty creeps to save the country.

  • Jeremia Africa

    WMC now searching for some place to hide, You better gone out if this country as soon as possible. Enough is enough !

    • Tracee Dee

      DA might be the new shelter to WMC. DA would now support WMC in carrying out its nefarious activities.

  • Lebona Sekha

    High time now. Poeple of the country should now throw both DA and WMC out of this country.

    • Tracee Dee

      Yes, they have no right to live in this country. They are traitors! they must be thrown out.

  • Tracee Dee

    These WMC agents want to destroy our country and now for that sake they have joined hands with DA. Their selfish desires shall never be fulfilled.