Guptas embarked on ‘calculated strategy’ to siphon money from SOEs, says Zondo
This strategy was starkly apparent in the contracts signed in favour of their media company TNA
05 January 2022 - 08:39
The siphoning off of money from state-owned enterprises (SOEs) to fund The New Age newspaper was a typical example of the “calculated strategy” by the Gupta family to appropriate public funds where there was no discernible value for these enterprises or government departments, the Zondo commission concluded in its first report to President Cyril Ramaphosa.
Government information department GCIS, Eskom, Transnet and SAA all fell victim to this strategy, which was facilitated by internal executives or officials acting in cahoots with the owners of The New Age newspaper...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.