Complaints by the ANC Youth League that businesswoman Wendy Luhabe intended using an ABSA luncheon to lobby for her husband Mbhazima Shilowa's political movement reflected a culture of intolerance, she said on Thursday.

"The lunch at ABSA with Gill Marcus was first introduced in 2007 when Gill became chairman of ABSA and in September we agreed we will jointly host another one on 14 November this year long before the Shikota movement came into being," she said in an emailed statement..

The "Shikota movement" is a reference to the party Shilowa, Terror Lekota and Mluleki George intend forming in December.

"I have been involved with Gill on many women's initiatives during her time at the Reserve Bank and Gordon Institute of Business Science.

"It's rather unfortunate that ABSA gets drawn into a climate that is intended to intimidate business and others, a climate intended to create fear of association with people who exercise a different political choice," she said.

"It's also an irony that an historic moment with Obama's victory all we can think of is how to continue to assassinate the characters of those who exercise their democratic right to make a choice and to take a stand.

"It suggests to me it is time for change everywhere not just in America because unfounded allegations about people and institutions are irresponsible and they are damaging to the reputation of our country.

"They reveal more about those who make the allegations and their intentions. They fuel a culture of intolerance."

The league had also asked for a probe into whether she would divert funds from the Industrial Development Corporation, which she chairs, into the movement.

Both ABSA and the IDC have denied the league's claims.

League spokesman Floyd Shivambu said he accepted Absa's explanation that the luncheon would serve to advance the cause of women, and not to raise funds for the new party.

IDC spokeswoman Neo Sowazi said: "The Industrial Development Corporation of South Africa Limited would like to categorically state that Ms Wendy Luhabe neither requested nor ever directed any funds from the IDC to any political party."