A pack of ANC lies, says Zondi

KWAZULU-NATAL Economic Development and Tourism MEC Reverend Musa Zondi has accused the ANC in the province of misleading the financially constrained Ithala Bank customers for political point scoring.

- WILLEM PHUNGULA

Reverend Zondi was reacting to the ANC's claim that it had won a significant victory for bank customers - namely, that the bank would no longer be liquidated and that customers would soon be able to access their frozen funds.

In a media briefing on Tuesday, the party said that it had convinced Finance Minister Enoch Godongwana to guarantee all depositors.

Initially, the minister had agreed to guarantee depositors up to R100000. The party said this meant that the Prudential Authority (PA) had been removed from the bank's administration, and a liquidation case was off the table.

However, this was dismissed by Zondi as a lie and political point-scoring by the ANC.