Finance Minister Malusi Gigaba acknowledges and shares the serious concerns about corruption raised in a report released by The State Capacity Research Project and, at the same time as the African National Congress's National Executive Committee signalled a willingness to see further investigations undertaken, has come out in support of the establishment of a judicial commission of inquiry into allegations of State capture.

The report, titled 'Betrayal of the Promise: How South Africa is Being Stolen', is an interdisciplinary, inter-university research partnership that aims to contribute to the public debate about State capture in South Africa and is commissioned by the South African Council of Churches (SACC).

The report also suggests that South Africa has experienced a "silent coup" that has removed the African National Congress from its place as the primary force in society for transformation from apartheid legacies.

Gigaba said in a statement on Tuesday that transformation for a more inclusive economy had to take place while observing high standards of corporate governance.

He said inclusive growth was meant to achieve broad-based transformation, mobilise investment and create jobs.

However, he noted certain conclusions made in the report that he did not agree with and added that he would engage with the SACC to address the areas of disagreement.

“We have great appreciation for the unique role that faith-based organisations such as the SACC have to play in building a united front to defeat the malaise of corruption,” said Gigaba.

He added that institutions of the State should be used for the benefit of all and not for self-enrichment.

FINANCIAL MISMANAGEMENT

Responding to recent news reports from ANN7 television channel claiming that an an internal Treasury audit into government's Integrated Financial Management System had revealed financial mismanagement, Gigaba said he was looking at the issue together with National Treasury leadership.

“Building and maintaining public confidence is key in the work of the National Treasury,” he added.

National Treasury would brief the public on the outcomes once the investigation into the matter had been concluded.