ANC corruption

Fica bill would expose ‘questionable’ donors, bankrupt the ANC. Manyi

Progressive Professional Forum president and former Cabinet spokesman Jimmy Manyi has slammed parliament’s approved Financial Intelligence Centre Amendment bill, saying it could expose money-laundering donors and seriously damage the ANC.

ANC corruption

Jimmy Manyi, who used to be one of the ANC’s top spin doctors, has come out strongly against the Fica bill. Manyi who currently serves as president of the Progressive Professional Forum (PPF) said the bill would financially cripple the ANC in the run up to the 2019 general election.

Through Fica, financial institutions would have the power to investigate questionable transactions which, according to Manyi, will expose money-laundering ANC donors and blacklist them.

“We are going to have a situation where everyone is tainted by this… We are also going to be embarrassed because of this, this is a dangerous piece of legislation,” manyi said, adding that ‘unnamed’ would use the bill to attack the ANC’s financial base “so that when we get to 2019 the ANC is as broke as hell.”

The Fica bill was passed by a parliamentary majority more than six months ago, yet president Zuma only recently sent the bill back to parliament, refusing to sign it into law. Manyi was asked to comment on  whether Zuma’s refusal to sign the bill into law for fear that it was unconstitutional had merit.

Zuma’s concern — besides folks looking into his finances — is that section 45(b)(i)(c) might be unconstitutional, because it allowed for ‘warrantless searches by finance inspectors in certain circumstances’.

While el presidente may or may not have a point, some — many actually — believe the only reason he refused to sign off on Fica was to protect his mates; while the Black Business Council and PPF oppose the bill, because they believe it would empower the banks who, according to them, serve the interests of the white minority.