File picture: Simphiwe Mbokazi/African News Agency (ANA).

Former president Jacob Zuma has claimed that he is being persecuted because he had introduced the idea of a Brics bank in order to liberate poor countries from the World Bank. 

On Friday, Zuma will know whether his fraud, corruption and money laundering charges emanating from the late 90s arms deal will proceed or not. 

The ruling will be handed down in the Pietermaritzburg High Court. 

Delivering a memorial lecture of the late Zimbabwe former president Robert Mugabe in Newcastle, northern KwaZulu-Natal on Thursday, Zuma told hundreds of ANC supporters that even though he helped South Africa to join Brics, the current administration under his successor Cyril Ramaphosa was not active in this international body. 

“After joining Brics I came up with the idea that it should have its own bank because poor countries were getting into more and more financial trouble by borrowing from the World Bank.

“Indeed the Brics bank was formed. I believe that the trouble that I am facing now, as I have been persecuted for a long time, was because these western countries had established who had come up with the idea of the Brics bank,” he said. 

He said although Brics was made up of only five countries, it was powerful enough to drive its own economy, as the countries have half of the world population.  

“These countries are the big economies in their own regions, and are strategic. 

“One of these countries, China is number two in the world economy,” he said. 

He said that Brics would in the near future determine the world economy as two of the Brics members have veto power in the United Nations Security Council 

“This group of five has two with veto powers therefore we can veto anything in the world, and that is what I had discussed with president Mugabe.

“This is another reason why I am being persecuted day and night,” he said.

He said he had also agreed with Mugabe that liberation movements had made serious mistakes by focusing on political liberation instead of economic freedom. 

“We had discussed that former liberation parties should meet again to discuss how we can  continue with the struggle for economy.

He said Mugabe was most hated because he had touched the nerve of capitalists by questioning the issue of land. 

“Whenever you talk about the issue of the land there are those clever people who would look at you as if you are a stupid. 

“If I had continued as the president for a few more months I was going to take drastic action to reclaim the economy for the blacks.”

Political Bureau