Banks face renewed scrutiny over state capture links three years on

Three years after former Chief Justice Raymond Zondo handed over the final tranche of the State Capture Commission’s report, South Africa’s two major banks - Nedbank and Standard Bank - remain under the glare of state capture scrutiny for their alleged involvement in dubious dealings connected to the Gupta network.

The State Capture Commission was formally established in January 2018 to investigate the extent of state capture and corruption.

In June 2022, Chief Justice Zondo delivered the final reports to President Cyril Ramaphosa, among the most salient findings, were the implications of the banking sector in facilitating or benefiting from corrupt activities.

By Thabo Makwakwa
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