Former finance minister Pravin Gordhan has told a University of Johannesburg audience that state capture is the stealing of resources from the state by a small group, to put in pockets in SA or banks in Dubai.
Gordhan and former deputy finance minister Mcebisi Jonas criticised state capture at an event at the university on Wednesday, to cheers from the audience.
"South Africans know who is stealing, they know who is responsible and they know what needs to be done," he said.
Today, Mcebisi and myself don’t stand here as victims; we stand here as proud cadres of the ANC and proud freedom fighters.
Both Jonas and Gordhan called out state-owned entities’ involvement in state capture and monopoly capital.
"People can get off scot-free without any interventions from the law enforcement agencies, whereas others are harassed by law enforcement."
Gordhan added that state capture deprived South Africans of jobs and had stunted economic growth.
In reference to the Cabinet reshuffle in March in which Gordhan and Jonas were replaced by Malusi Gigaba and Sfiso Buthelezi, respectively, Gordhan said: "Today, Mcebisi and myself don’t stand here as victims; we stand here as proud cadres of the ANC and proud freedom fighters."
"Our country is in a crisis of leadership," said Jonas. "SA is facing its defining moment both politically and economically," he said, explaining that this was the fifth year in which SA had experienced low growth.
"We’re now in recession. We’re increasingly becoming, as a country, a capital of corruption and state capture."
During the question and answer session, UJ students challenged Jonas and Gordhan for being complacent when they were in Treasury and for supporting monopoly capital. Students also criticised Gordhan of only speaking out when he left Treasury.
Gordhan responded by saying that the issues needed to be debated, not the person.
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