Manuel supports call for judicial inquiry into state capture

Johannesburg – The proposal by former public protector Advocate Thuli Madonsela to have a judicial inquiry investigate allegations of state capture is "well-founded", said Trevor Manuel.

The former finance minister and current chairperson of Rothschild was speaking to journalists on the sidelines of the Association of Black Securities and Investment Professionals (Absip) Financial Services Conference, held in Sandton on Tuesday. 

“The call for a judicial commission is well founded and I hope the judicial commission will drill down into a lot more detail and that there will be consequences which flow from the commission,” said Manuel.

READ: Madonsela recommends judicial inquiry into state capture

He added that the report probably only touched the “tip of the iceberg”.

In his address, Manuel said that after reading Madonsela's report, he noticed that the “owners of Tegeta” had no impediments when it came to Broad Based Black Economic Empowerment (BBBEE). “In fact it appears that the Gupta family who arrived from India much later have never had any BBBEE qualification issues. There is something seriously untoward about this contradiction,” he said.

Manuel said going forward, in order to achieve inclusive economic growth, it is important to recognise the self-interest of parties involved. The conversations around these challenges require the guidance and support of an “uncaptured” government, he said.