Why the South African government is still protecting apartheid racketeers

martinplaut

Sylvia VollenhovenThis is a truly amazing story – involving billions of dollars.

It leaves one asking, why on earth the present South African government is so determined to protect apartheid era sanctions-busters?

The story goes something like this. During the apartheid years, several South African and foreign banks were involved in busting sanctions imposed by the international community.

Some – including the bank that is now called Absa – got into difficulties, and were bailed out by the Reserve Bank. So far so good.

In 1994 the ANC comes to power under Nelson Mandela and starts looking at the books, only to discover that this money is still outstanding.

It asks a British investigative firm to look into the matter. The firm – Ciex – discovers that squillions are still owed to the South African government.

In fact, according to the Cape Town based investigative magazine, Noseweek, these are the…

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