SA’s richest man, Johann Rupert, says “radical economic transformation”, the policy championed by President Jacob Zuma to reduce racial inequality, is no more than theft. “Radical economic transformation is just a code word for theft,” Rupert said on the sidelines of Richemont’s annual general meeting in Geneva on Wednesday. “That’s what’s happening there. They’re raiding the state’s coffers. And it’s public knowledge.” Former public protector THuli Madonsela alleged in her Stage of Capture report in November last year that Zuma allowed members of the wealthy Gupta family, who are in business with his son, to influence Cabinet appointments and the award of state contracts. And a study released in March by a team of academics concluded that Zuma, the Guptas and their allies had orchestrated “a silent coup”, securing control over key positions in the state, enabling them to allegedly steal billions of rand. Zuma and the Guptas deny wrongdoing. A trove of leaked e-mails dubbed the Gupt...

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