Finance Minister Malusi Gigaba has denied involvement in state capture. He was reacting to allegations in a report by the Public Affairs Research Institute (Pari) that he appointed people with Gupta-Zuma-aligned interests to the boards of state-owned enterprises while he was public enterprises minister. Gigaba’s spokesperson, Mayihlome Tshwete, said the report was filled with inaccuracies and "continues the trend of defamation". On Thursday‚ Pari released a report, written by several academics, entitled Betrayal of the Promise: How the Nation is Being Stolen. The 72-page document details how the Gupta family‚ through various companies and friends‚ including President Jacob Zuma‚ gained beneficial access to profit from several multimillion rand contracts with state owned companies‚ whether directly through shell companies and legitimate businesses or indirectly as brokers or middle-men — and how their actions can be likened to a "silent coup". The team of academics from various insti...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.