Zuma Lied to, Misled South Africa's Cabinet, Gordhan Says

(Bloomberg) -- Former South African Finance Minister Pravin Gordhan said there was a deliberate scheme to loot taxpayer funds during Jacob Zuma’s rule and accused the former president of helping facilitate it and lying to and misleading members of his cabinet.

Gordhan, who now oversees state companies, was testifying before a judicial panel that’s investigating claims that members of the Gupta family exploited their close relationship with Zuma to further their business interests -- a process known as state capture. Zuma, who quit in February under pressure from the ruling African National Congress, and the Guptas deny wrongdoing.

Zuma sought to overturn a decision by banks to close the Guptas’ accounts, pushed for the country to buy new nuclear plants it couldn’t afford and ensured certain people were appointed as cabinet ministers and to senior positions at state companies, which enabled state capture to occur, Gordhan said.

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