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And the final pot of gold always ended up with the Guptas. 00:01
Billions in taxpayer money was awarded through tainted contracts, âlaunderedâ in SA, and moved offshore. Image: Waldo Swiegers, Bloomberg
Paul Holden, co-founder and director of Shadow World Investigations, appeared at the Zondo Commission of Inquiry into allegations of state capture on Monday (May 24) to give evidence on Gupta contracts with state-related entities.
Shadow World Investigations focuses on cases of grand corruption, corporate malfeasance and militarism (co-founder Andrew Feinstein was an ANC MP until his resignation in 2001 when the party refused to properly investigate the arms deal).
‘South Africa lost R49 bn due to state capture, corruption’ Updated
Gaopalelwe Phalaetsile
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The commission of inquiry into state capture has heard that South Africa lost R49 billion to state capture and corruption-related activities.
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Holden testified via Zoom from the British capital.
He testified on amounts of monies paid by different government departments, including the Free State provincial government, the North West government, and several SOEs through contracts tainted by state capture.
Most of these monies were paid directly to companies not owned by the Guptas, but linked to them through their business associates.
The money subsequently ended up directly into Gupta-owned entities.
More than R49 billion spent on contracts tainted by state capture , Zondo Commission hears news24.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from news24.com Daily Mail and Mail on Sunday newspapers.
11 Dec 2020
ABB South Africa has reached an agreement with Eskom and the Special Investigating Unit (SIU) to repay the power utility R1.56 billion.
This is related to overpayments made by Eskom to the contractor for work done at Kusile power station.
The SIU has said this is the largest recovery it has made since it started reviewing contracts at the power utility.
Public Enterprises Minister Pravin Gordhan has said there are tens of billions more to be recovered from irregular contracts with state-owned enterprises.
11 Dec 2020
Gordhan says that the issues with the tender system do not solely lie with Eskom. It is also related to the private companies seeking to exploit weaknesses in the tender process or manipulate the system.