LETTER: Tips for Tito to recover funds

by | Oct 29, 2018 | General | 0 comments

Finance minister has the power to follow the Gupta money trail and recover misappropriated funds.

Most responses to the invitation to give tips to our new minister of finance concentrate on ways of scrimping, saving and stretching the somewhat limited public purse to temper the wind to the shorn lambs in our midst.

The finance minister does, however, have the power to take steps to recover the misappropriated funds of the nation and to repatriate billions spent on invalid procurements such as those done by Eskom, Armscor and Transnet.

The original sin of the post-apartheid era, the arms deals, is a debt trap from which it is easy to escape due to the invalidity of the loans that underpin the deals.

Following the Gupta money trail to Dubai, India and Hong Kong is easy too, now that the Reserve Bank and the international SWIFT banking system track trans-border movement of funds. What has been lacking is the political will to do the necessary litigating.

Tito Mboweni can take stepsĀ  to fill the hole in the fiscus left by the JZ mob and others.

Paul Hoffman SC
Director, Institute for Accountability in Southern Africa
Via email

Letter published in Bdlive on 23 October 2018.

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