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Sarb mum on the ‘farmgate’ probe as EFF threatens court action

South African Reserve Bank. | File Picture

South African Reserve Bank. | File Picture

Published Jul 3, 2022


South African Reserve Bank. | File Picture

Tshwarelo Hunter Mogakane

The South African Reserve Bank (Sarb) has confirmed receiving complaints from political parties who want President Cyril Ramaphosa to explain events connected to millions of dollars found at his Phala Phala farm in Limpopo.

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The EFF is one of the political parties that have written to the Sarb, demanding answers from Governor Lesetja Kganyago.

“The EFF is concerned by the South African Reserve Bank’s failure to respond to a letter sent to the Governor with regards to prima facie evidence of crime proceeds and money laundering at Cyril Ramaphosa’s wildlife farm. We reasonably suspect that the Sarb and the Governor are involved in covering up the crimes,” said EFF spokesperson Sinawo Tambo.

The EFF cited sworn statements that former Correctional Services head Arthur Fraser submitted to investigators, including the Hawks.

According to their own letter to the Sarb, the EFF wanted three questions answered.

• Was the Sarb aware of money being stored at the Phala Phala farm?

• If the Sarb only became aware of the amounts of foreign currency stored at the farm, what action was taken?

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• Did Ramaphosa declare any foreign currency in his possession to the Sarb?

The EFF said the Sarb has a mandate to regulate cross-border transactions, preventing the abuse of the financial systems independently and without fear, favour or prejudice.

“We demand the Sarb and the Governor respond to our correspondence before or we will be left with no choice but to approach the courts,” the party said.

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When approached for comment, Sarb media office confirmed receiving letters from different political parties but refused to comment any further.

“The Sarb does not comment publicly on correspondence that it receives from any organisation or individual,” the bank said in an emailed response to the Pretoria News.

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