Publication Date: 31/10/2016


The Banking Association South Africa (BASA) notes today’s decision by the National Prosecuting Authority to withdraw the charges against Minister Pravin Gordhan, former Sars commissioner Oupa Magashula and former deputy Sars Commissioner Ivan Pillay.

We are firmly of the view there could not have been any other outcome to this costly saga. We are obviously relieved that the NPA has made, belatedly, the correct decision, but the damage has already been done. The economic impact immediately following the decision to lay charges was very negative and, although it has improved since, we again sent out a message that there are attempts at political influence on our critical institutions.

According to Cas Coovadia, MD of BASA: “We remain convinced that the conduct of the NPA and HAWKS was extremely problematic and failed to consider, in any way, the national interest. It is now confirmed the charges were spurious and we must also not forget the theatrics of the NPA in announcing the charges.”

This was clearly a case of political persecution of the Minister of Finance. However, the Minister is vindicated by the decision of the NPA today.

It is also proof that the Minister was correct in his initial response to the relevant authorities on this matter.

BASA has consistently maintained its support of the Minister and National Treasury and we will continue to do so as we recognise the critical role NT, fulfils under the leadership of both the Minister, Deputy Minister and Director-General. It is critical to continue protecting our institutions, particularly, in the case of banking – SARB, NT and SARS – and we will continue engaging stakeholders to do this in order to fight corruption and to maintain the global standing of the financial sector.

We firmly believe the NPA failed to give reasonable consideration to the facts at hand before they proceeded to charge the Minister and the two other individuals. The NPA had to be aware of the potential economic consequences of its conduct, yet failed to consider this. Somebody has to be held accountable for this blot on our country’s reputation and we expect heads to roll.

According to Cas Coovadia, MD of BASA: “The fight must continue against capture and corruption. The Minister has taken a clear stance on corruption and has continued to act in the best interests of the country to ensure that the state is not captured by forces attempting to loot the coffers, and he has our continued support”.

We now call on all sectors of society to continue to demonstrate their support for the Minister and confidence in his leadership in executing his duties. The Minister now also requires the uninhibited support of the Cabinet and Government in its entirety.

“The Minister should be allowed and enabled to do his job without fear of political persecution”, says Coovadia.

We look forward to our continued engagements with the Minister and the National Treasury as we work together to restore confidence in the country and continue to promote principles of good governance in the national interest and to accelerate economic growth for the benefit of all South Africans.


For media enquiries or an interview with the MD please contact


Cas Coovadia

Managing Director

The Banking Association South Africa

Cell: +27 82 445 2252


Wisahl Jappie

The Banking Association South Africa

Tel:  +27 21 424 3125

Cell: +27 72 227 1144


Note to Editors:

The Banking Association South Africa

The role of The Banking Association is to facilitate the enablement of a conducive banking environment through robust engagement with government and relevant stakeholders. A critical role of The Banking Association is to work with its members to enable this role within the context of the transformation challenges prevailing in South Africa. For more on The Banking Association South Africa visit –