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The African National Congress (ANC) has described the statement by Mineral Resources Minister Mosebenzi Zwane as reckless and appalling. They has called on the president to discipline the minister.

Last week, Zwane issued a statement claiming to be on behalf of cabinet, which called for a judicial inquiry to be established into the closing of the Gupta family’s bank accounts.

The ANC’s Zizi Kodwa says Zwane has brought the country into disrepute.

“Because that kind of a conduct that is sending away shocking misinterpretation of South Africa’s standing in leadership in terms of investments and investors”he said.

On Friday, Zwane’s spokesperson Martin Madlala admitted in an interview that the statement they had released was misleading and was not on behalf of cabinet.

 

Economists have warned that the contradicting messages from government over the Gupta family and an Inter-Ministerial Commission’s recommendations regarding their bank accounts may further frustrate the markets.

Economist Dawie Roodt said rating agencies are watching and taking note.