CEO of Business Leadership South Africa Bonang Mohale has labelled Jacob Zuma a 'thief' and stated that the accountability of government has been captured.
Mohale spoke at a launch event in Cape Town on Thursday, according to Fin24.
He said almost R100bn has been looted to benefit two families in South Africa, the Guptas and the Zumas.
Mohale also pledged that he will do even more to create jobs and grow and transform the economy. He said he wants to make sure the "snake's head is chopped off".
It is alleged that BLSA asked KPMG to "come clean", but when it was not convinced that the auditing firm was genuine it decided to suspend KPMG's membership of BLSA.
"The firm [KPMG] became party to the project of state capture, which has harmed our country, victimised individuals and damaged the reputation of business."
"That is why we have called for an independent investigation and full disclosure on the part of KPMG."
Mohale also said, without disclosing names, that two more companies will be suspended from BLSA.
He raised concerns about the drop in business confidence, which was at a 30-year low, which he blamed on poor leadership.
"We are well aware that business is not blameless and we are cleaning our house first and foremost. But, as we acknowledge our own failings – we must also highlight that these problems are much, much greater and more serious in the government sector than in business."
Earlier this month Mohale spoke to HuffPost and said Jacob Zuma has wasted time and resources on keeping criminal charges against him at bay while "the majority of our people still languish in the vicious cycle of abject poverty".
Mohale spoke to HuffPost SA ahead of the Banking Association of SA's summit at the JSE on the role of the financial sector in achieving economic transformation.