Guptas

 

This Is How Much Of Your Money Government Has Wasted This Year

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The South African public has been bombarded with media reports about government projects or branches using up millions, even billions of rands of taxpayers’ money. These range from irregular and wasteful expenditure at provincial and municipal levels to infrastructure projects which often balloon well beyond their original budgets. So when broken down, how much do..
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Nkandla Money Mysteries Deepen: Zuma In Spotlight Over Tax Bill, Bank Loan

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Photo:  BREAKING NEWS: Loan applicants are already queuing at the offices of #VBSMutualBank this morning #Nkandla The Nkandla scandal that rocked South Africa shows no signs of subsiding, with more questions being raised than answered over President Jacob Zuma allegedly repaying millions to tax coffers. Even if Zuma has repaid the money, as he says..
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What May Have Set The ANC On A Path To Corruption

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There are suggestions that the African National Congress (ANC) in South Africa lost the plot after the ascension of Jacob Zuma as the party’s president in 2007. There may be important elements of truth in this. However, there are compelling reasons that situate the morality challenges faced by the ANC – and by extension the country..
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Is SARB Governor Kganyago Next In Firing Line In Zupta State Capture Plans?

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Is South African Reserve Bank (Sarb) Governor Lesetja Kganyago next in line to come under pressure in the campaign by President Jacob Zuma and his allies to take full control of all state entities? A central bank shareholder and former employee set out a scene that suggests Kganyago could well come in for similar treatment..
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Understanding Jacob Zuma: Why Guptas More Valued Than ANC

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South Africa is on the brink of an economic crisis as a plan by President Jacob Zuma and associates to gain greater control of state entities takes shape. It puzzles many that Zuma, who rose to power on the strength of his popularity among the masses, appears to be authorising moves that are destabilising his political..
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How Zuma Broke The Rand

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The South African rand is the worst-performing currency out of 31 major and developing-nation currencies monitored by Bloomberg.   On Wednesday the South African rand fell to its weakest level since early July, which was caused by political uncertainty surrounding Finance Minister Pravin Gordhan. The rand traded at R14.74 against the US dollar yesterday, a..
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Investment Boycott And Tax Strikes: Support Grows For Financial Protests

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Support is growing in South Africa for an investment boycott of key state entities, while citizens are increasingly suggesting tax boycotts as a way to get the government to clean up its financial act. South Africa has been mired in controversy, withPresident Jacob Zuma in the spotlight over a range of transactions linked to the..
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Final Destination For SAA? South Africans Say “Kill” Airline As Cash Runs Dry

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South Africa’s national airline South African Airways (SAA) is in deep financial trouble, with speculation that it will soon be grounded. While other international airlines take advantage of low oil prices to boost margins, SAA has floundered amid allegations of financial mismanagement. The International Air Transport Association (Iata) expects airline profits to increase on average..
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Numbers Don’t Lie – South Africa Moving Backwards Under Zuma’s Leadership

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It’s simple economics if the pie stays the same size and more people want a piece of it, the slices get smaller. Professor Matthew Lester continuously makes reference to South Africa’s ever-expanding population, and if you couple this with stagnant growth rates, citizens are ultimately getting poorer. But this theory needs to be backed up by..
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Maimane Explains Zupta Plot To Seize Control Of State Assets, Step-By-Step – And Get Away With It

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Allegations of corruption against President Jacob Zuma and his friends, the Guptas, have been taken to the South African Police Service. But the police aren’t making any progress in their investigation, it seems. This is because President Zuma has worked on a systematic plan to gain control of key state institutions, says DA leader Mmusi..
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Zuma And Friends Develop Plan To Seize Control Of Banks

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    Jacob Zuma and his clique have control of South Africa’s commercial banks firmly in their sights, it has emerged1. Zuma ally Mosebenzi Zwane – the mines minister who played a key role in helping the rich Gupta family acquire Eskom coal supplier Optimum – is a central figure in plans to maintain a tighter grip..
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The Massive Companies Zuma Is Now In Charge Of

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It was announced this week that the government would establish a Presidential State Owned Companies Coordinating Council, which will see President Jacob Zuma oversee the country’s parastatals. I was announced this week that the government would establish a Presidential State Owned Companies Coordinating Council, which will see President Jacob Zuma oversee the country’s parastatals. Minister..
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Goodbye Guptas: Family To Exit All South African Businesses By End 2016

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The Guptas – who are believed to have a close relationship with President Jacob Zuma – have announced their intention to sell shareholding in all South African businesses by the end of 2016. Following their earlier statement today about newspaper reports of alleged comments made by Finance Minister Pravin Gordhan, accusing the Gupta Family of..
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