Gupta associates peddled ‘fake Nene letter’ for loan
The deal was linked to funding of Transnet’s multibillion-rand locomotive procurement
Gupta-linked business associates wrote and peddled a letter in the name of former finance minister Nhlanhla Nene — who has called it a “fake/fabrication” — relating to the funding of Transnet’s multibillion-rand locomotive procurement.
The letter was found among hundreds of thousands of leaked Gupta e-mails. Written in Nene’s name, it was addressed to China Development Bank board chairman Hu Huaibang, in January 2015.
In June 2015, Transnet’s CEO Siyabonga Gama, who was then acting CEO, announced at a World Economic Forum media conference that the bank had agreed to provide Transnet with a R30bn loan facility.
The facility was close to the amount paid to Chinese companies that won the greater part of the tender, China South Rail and North China Rail.
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