ANC intelligence operatives led by the late Bheki Jacobs “spilled the beans” 20 years ago that the so-called arms deal scandal extended to many other activities, including money laundering by the Public Investment Commission (PIC) which then, ex officio, was chaired by the Minister of Finance (but subsequently by the Deputy Minister). The operatives alleged back then that the common denominator in all these scams was kickbacks to the ANC for political protection against prosecution for corruption.

The abuse of the PIC as an ANC slush fund is at long last being exposed for its role in funding Iqbal Survé’s takeover of Independent Newspapers (A’yo going down, Dr Survé?, January 30). The PIC’s guarantees and funding of SANRAL’s disastrous and discredited tollroad schemes have previously also been exposed. In addition, the PIC’s former CEO, Brian Molefe’s multiple roles in looting state-owned enterprises (SOEs) eclipses any excuses of incompetence or unintended consequences of ANC cadre deployments.

Great, but what about the previous PIC chairmen who “closed their eyes” to the plunder of the PIC plus other SOEs, including Eskom, SAA and Denel? Trevor Manuel was chair from 1996 until 2005. Former ANC MP Andrew Feinstein revealed in his book After The Party how Manuel in 2001 pressured him to drop Scopa’s investigation into the late Joe Modise and the arms deal. Manuel disingenuously told the Seriti Commission in 2014 that the letters JM might also have stood for either Julius Malema or Jabulani Moleketi.

The Prevention of Organised Crime Act (POCA) of 1998 has never been enforced but includes massive financial penalties and lengthy jail times for failure to report even suspicions of money laundering. It is also the implementing legislation for South Africa’s obligations under the OECD Conventions against Bribery of Foreign Officials. The OECD has complained about South Africa’s failures to enforce that legislation.

The scale of corruption today makes the arms deal look like “petty cash”. If South Africa is finally serious about corruption, isn’t it time for the Zondo Commission, the PIC Commission and the newly-rejuvenated National Prosecuting Authority to go after the ANC’s millionaire and billionaire politicians instead of the “foot soldiers” and minions? DM