McKINSEY DOSSIER – Part 2: Contract To Pay McKinsey And Trillian R1.6-Bn ‘Invalid’

In Part 1, we detailed how global consultancy McKinsey lined up an R9.4-billion bonanza from Eskom with the help of Gupta-linked Trillian Capital Partners. We also showed how Eskom executives ignored warnings from their own legal team that the contract favoured McKinsey and did not comply with the law. In Part 2, we show how the flawed […]
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McKINSEY DOSSIER – Part 5: How Transnet Cash Stuffed Gupta Letterboxes

When global consulting firm McKinsey “came clean” last Tuesday about its work at Eskom, it admitted it was not careful enough about associating with Trillian, its de facto local partner. But it claimed not to have known that Gupta lieutenant Salim Essa owned most of Trillian.Now we show that at least R30m flowed from Regiments, […]
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McKINSEY DOSSIER – Part 4: Eskom Bending Over Backwards For Trillian #GuptaLeaks

Eskom paid Trillian R595m without a valid contract while lying to the public about doing so. This is well established by now. But how the Gupta-linked company was sneaked onto Eskom’s payment system – a system designed to prevent fraud – has always been a mystery. A series of interviews and leaked documents show that […]
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McKINSEY DOSSIER – Part 3: Eskom Tells McKinsey And Trillian To #PayBackTheMoney #GuptaLeaks

Pressure on global consulting giant McKinsey has reached breaking point after Eskom moved to reclaim R1.6-billion in consulting fees paid as part of the controversial turnaround project. On Thursday night Eskom released a statement saying that it “sought McKinsey and Trillian’s co-operation” to have the R1-billion paid to McKinsey and the R564-million paid to Gupta-linked […]
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Business Leadership South Africa kicks out Eskom‚ Transnet

Business Leadership South Africa (BLSA) has suspended the membership of state entities Eskom and Transnet with immediate effect. The decision follows “extensive allegations of corrupt behaviour”‚ the business lobby group said. BLSA CEO Bonang Mohale said in a statement: “South Africans have been rightly disturbed in recent times at the numerous allegations of corrupt behaviour […]
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Gupta owned companies New Age and ANN7 sold to Mzwanele Manyi for R450m

A company owned by Mzwanele Manyi has forked out R450-million to buy The New Age (TNA) Media and ANN7 from Gupta-owned firm Oakbay. Oakbay announced the sale of its newspaper and TV channel on Monday, saying the agreement with the company Lodidox would conclude over the “next few weeks”. “We are delighted to have reached […]
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Gupta company may be suspended from JSE – Finally the getting what they deserve!

Gupta owned company is faced with possible suspension by the Johannesburg Stock Exchange after being dropped by both its transfer secretary and sponsor. Oakbay Resources and Energy Ltd. was informed that the JSE is considering halting trading in its shares and is considering various alternatives, the company said in a statement on Thursday. Both appointments […]
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Banks slapped with fines for weak anti-money laundering controls.

Several local and international banks have been slapped with administrative fines by the South African Reserve Bank, for weak anti-money laundering and combating of financing terrorism controls. The banks include: Investec, Absa, Standard Chartered, as well as Habib Overseas Bank. Overall, banks were fined a total of R46.5-million. Absa was fined R10-million for weaknesses related […]
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ANC has ordered Public Enterprises Minister Lynne Brown and the Eskom board to rescind Brian Molefe’s return.

“We met with Lynne Brown and all of us present said ‘comrades, that decision must be rescinded’,” ANC secretary general Gwede Mantashe. The party’s top six summoned Brown to Luthuli House on Monday. He said the party warned that the matter was likely to end up in court. The DA approached the high court in […]
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The full list of 72 ‘dodgy’ Gupta family transactions totaling R6.8bn

Seventy-two transactions varying from R5,000 to R1.3bn involving the Gupta family have been identified as “suspicious” by the Financial Intelligence Centre (FIC). The 72 transactions worth R6.8bn that feature in a dramatic court application filed by Finance Minister Pravin Gordhan was flagged by the FIC because there had been “no apparent business or lawful purpose” […]
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