'We need to protect the ANC from corporate greed' - Zuma

The private sector is just as corrupt as the public sector‚ President Jacob Zuma has said.

Zuma said when corruption was identified in the private sector‚ it was given fancy names like weak governance systems and not treated the same as in the public sector.

“Corruption in the private sector is as bad as that that is found in government and must be dealt with decisively by all [law] enforcement agencies. Corporate collusion is now a criminal offence punishable with 10 years in prison in terms of the new provision signed last year‚” Zuma said at the party's national conference.

“Legislation has been put in place by the ANC to eradicate corruption in the public sector. Since 2009‚ the president of the republic has signed 84 proclamation authorising the Special Investigating Unit to investigate maladministration and corruption in government and state institutions.

“Allegations made against some sections of the business community regarding the said capture of the state to advance business interest will be probed further in the judicial commission of inquiry that we committed to establish as the ANC some time ago‚ in order to uncover the truth.”

He added: “We need to find ways to protect the ANC from corporate greed.”