South Africa is still suffering from the failures, post-Apartheid, in her major power supplier. Mis-management and corruption have resulted in a utility which is incapable of maintaining the electricity necessary for a major nation and has to resort to load-shedding (scheduled black-outs) to remain viable. The appointment of an Electricity Minister seems no more than a gesture, and one which may not improve matters as responsibility at government level becomes even more diffuse.
Now doubts have been raised about the probity of major South African banks, Al Jazeera, using a sting operation and the evidence of a confessed former member of a gang, charges that:
Several key officials at three major South African banks are helping a gold smuggling gang launder millions of dollars of dirty cash in exchange for regular bribes, an Al Jazeera investigation has found.
The officers at Standard Bank, ABSA Bank and Sasfin Bank have been on the payroll of Mohamed Khan, a money launderer working for cigarette magnate and smuggler Simon Rudland, thousands of documents and interviews with Khan’s former colleagues reveal.
These officers would enable dubious money transfers from Khan’s companies and remove evidence from the computer systems, all while getting monthly payments from Khan.
The revelation is part of Gold Mafia, a four-part investigation by Al Jazeera’s Investigative Unit (I-Unit), which shows how multiple gangs smuggle gold from Zimbabwe and use it to launder vast amounts of money.
Democracy in itself has not been enough to bring social and economic justice to the majority of South Africa's people. A new force with clean hand to replace the tired and tarnished ANC government is needed, but it is difficult to see where it is to come from.
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