Political Analyst, Khaya Sithole says the South African Reserve Bank (SARB) findings into the controversial Phala Phala money laundering scandal leaves much to be desired.
President Cyril Ramaphosa addressing a media briefing.findings into the controversial Phala Phala money laundering scandal
The Reserve Bank released a statement this morning, saying due to legislative requirements and constraints, the report into the matter is a private, internal report that will not be made available to the public.“The statement itself is surprising in the sense that it fails to appreciate the gravity of the public interest dimension in this matter.
It notes that the President’s Ntaba Nyoni Estate, which owns the Phala Phala game farm was not legally entitled to the 580-thousand-US dollars it received from Sudanese businessman Haz Mustafa for the 20 buffalo. The bank says it considered 15 affidavits and hundreds of documents while liaising with other authorities toward the conclusion of its investigation.
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