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Former president Jacob Zuma reportedly said that his push for the establishment of the BRICS bank is the reason why he was removed as president before his term came to an end.

TimesLive reported that Zuma said he believed that the creation of the bank would bring change to the lives of poor black people.

Zuma was on Thursday delivering the eulogy at the memorial lecture for the late Zimbabwean President Robert Mugabe, where he made these remarks.

It was reported that delivering his eulogy, Zuma said he was motivated to join the BRIC group of countries – Brazil, Russia, India, and China – because, during the struggle for liberation, western countries had not been friends to the governing ANC.

The former president reportedly criticised western countries for approaching the governing party only once liberation had been attained, to share their economic ideas and making suggestions on dealings with the International Monetary Fund.

Zuma was quoted as saying that western countries had called for his removal once they got information that he had suggested to the BRICS group of countries that they create a bank.

Zuma said that had he completed his term in the presidency, he would have fast-tracked the process of improving the lives of poor black South Africans.

The former president said this fast-tracking of the process of improving the lives of poor black South Africans had been one of the problems he faced during his presidency.

Zuma said his critics were opposed to this and as a result, they quickened the process of removing him from office.

“They saw it was even better if I don't complete my term … I was going to do a lot. I was really going to do it,” Zuma was quoted as saying.

The former president reportedly criticised economists in the country for blaming him for all that went wrong with South Africa's economy.

Zuma said he was blamed when the rand declined and when the country's credit was downgraded.

He questioned who was ruining the economy now that “Zuma is no longer in power”.

The former president reportedly praised Mugabe and said the late president was loved by African leaders for taking back the land in Zimbabwe.

Zuma said the governing party's struggle was for the complete decolonisation of South Africa, politically and economically, but this had not occurred.

“Those who controlled the economy, still control it. In other words, we are still colonised. We were only decolonised politically. When you speak like that, the clever ones look at you as a fool,” Zuma was quoted as saying.

(Compiled by Makhosandile Zulu.)

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