Mantashe backs signing FIC amendment
THE Financial Intelligence Centre (FIC) Amendment Bill is necessary and SA will be punished by world markets if it does not enact it into law, ANC secretary-general Gwede Mantashe has warned, joining a growing chorus of voices calling on President Jacob Zuma to assent to the amendment bill.
Mantashe also told an investor conference organised by RMB Morgan Stanley in Cape Town that the ANC had made its support for Finance Minister Pravin Gordhan clear and there were no discussions in the party about his position.
“The bill is necessary ... if we don’t comply, we will be punished by world markets. Some view it as draconian or right wing, but it is a [UN] convention that calls for it,” he said.
“Our views should not be more important than the country,” Mantashe said.
He told delegates at the investment conference that major institutions including the Financial Intelligence Centre and the Reserve Bank remained stable and independent, which is attractive to investors. The country also remained stable politically, economically and socially despite recent challenges.
However, he said, perceptions that the government and the ANC were fighting among themselves were hurting the economy. Thus, the governing party had appealed to the Hawks and Gordhan to discuss their issues behind closed doors.
“The Hollywood approach of sending questions [to Gordhan] and calling the media doesn’t work. Our appeal was that they close the door, lock it and sort out their problems,” Mantashe said.
The elite police unit, the Hawks, have been investigating Gordhan and former South African Revenue Service officials over their alleged involvement in the socalled rogue unit at the taxcollection authority.
The issues have also sparked debate within the business community, with Business Unity SA (Busa) saying on Tuesday it had received a letter from other organisations, setting out their concerns about current political and socioeconomic issues. Busa CE Khanyisile Kweyama said the concerns included divisions in the governing party, the sustained attack on Gordhan and the Treasury, and the associated effect this would have on growth and social stability. “Busa is treating these matters with [the] appropriate gravity and is in the process of urgently seeking meetings with the top leadership in the ANC, the Presidency and other relevant arms of government,” Kweyama said.