Afrikaans author Dan Roodt's Pro-Afrikaans Action Group is set to lose close to R4.2 million for violating the country's exchange control regulations.
Image: File
Controversial pro-Afrikaans activist Dan Roodt's Pro-Afrikaans Action Group (Praag or Pro-Afrikaanse Aksie Groep) is set to lose nearly R4.2 million in local and foreign currency for violating exchange control regulations.
Roodt, widely known as one of the key proponents of the "white genocide" narrative, pushing the alleged mass murder of Afrikaners in South Africa, has been flagged by the SA Reserve Bank (SARB) for four instances that flouted exchange control regulations.
According to the SARB, Praag’s US$121,303.80 (R1,980,757.62), R1,740,680.69, R443,639.21, and R10,574.18 held in various bank accounts were found to fall foul of exchange control rules.
In terms of the notice and order of forfeiture, Finance Minister Enoch Godongwana, under the Exchange Control Regulations, delegated all the functions and/or powers conferred upon the National Treasury and assigned the duties imposed thereunder on the Treasury, to the Governor or Deputy Governors of the SARB.
Fundi Tshazibana is the deputy governor of the Prudential Cluster at the central bank, and by virtue of her functions, powers, and/or duties, and in terms of the delegation and assignment of the functions, powers, and/or duties referred to in the regulations she gave notice of a decision to forfeit to the State the money and declared and ordered it forfeited to the State.
The SARB issues penalties that are raised for non-compliance by persons within the regulated sector, should they be found guilty of contravening a financial sector law or an enforceable undertaking accepted by the Prudential Authority (PA).
The PA deducts from this total all costs incurred in making and enforcing the administrative penalty orders, and the remaining balance after applying this deduction is paid into the National Revenue Fund (NRF), if any.
Additionally, the SARB also has a responsibility in terms of the Financial Intelligence Centre Act (FICA) to ensure that banks and life insurance companies comply with the FICA.
The SARB has authority in terms of FICA to impose administrative sanctions on these entities if and when they fail to comply with a provision, order, determination, or directive made in terms of this act.
It also issues notices with the said penalties to the relevant entities, but does not account for the penalties in its financial statements, as the penalties imposed are paid directly to the NRF. In the 2024/25 financial year, the total penalties issued on behalf of the government amounted to R20m, with R1m in 2024.
Roodt could not be reached for comment on Thursday.
loyiso.sidimba@inl.co.za