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LIVE FEED: State Capture Inquiry – August 11, 2020

Former minister of finance Des van Rooyen is expected to testify at Zondo commission this morning.

His appearance will focus on his ministerial appointment as finance minister in 2015.

Van Rooyen’s testimony will be followed by an opportunity to cross-examine former director-general at national treasury, Lungisa Fuzile.

Fuzile previously appeared at the inquiry in November 2018 and detailed his version of events of the days leading up to former finance minister Nhlanhla Nene’s removal in 2015 and van Rooyen’s subsequent takeover.

Fuzile said van Rooyen arrived in his new position with two Gupta-linked advisors, Mohamed Bobat and Ian Whitely, who acted as his superiors and overstepped their roles at the National Treasury.

One of the advisors, Bobat, had even shared confidential documents with Gupta-linked associate Eric Wood, who headed -up Trillian Capital.

Fuzile said this was a dangerous act as the information contained the department’s strategy in turning around the economy.

“The information contained in that document was about the strategic thinking of the cabinet on how to first understand the sluggishness of the South African economy and the causes,” said Fuzile.

“Some of that information it has the potential to move the market one way or the other if you have the access to the information early, you don’t have to speculate.”

Fuzile had also told the inquiry how van Rooyen had drafted a poor statement following Nene’s removal which did very little to calm the markets.

Van Rooyen had also requested that a third advisor be appointed without a contract being signed.

Van Rooyen was last year granted permission to cross-examine Fuzile.

Last week, Deputy Chief Justice Raymond Zondo dismissed Fuzile’s application to cross-examine van Rooyen.

Zondo did not elaborate on his decision to dismiss the application.

IOL

61ee6268 6f22 5bb6 b7df 35fecbf88d09 - LIVE FEED: State Capture Inquiry - August 11, 2020

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