LETTER: State capture fingerprints all over Gazprombank deal

The news that PetroSA has selected Gazprombank as its contractor to restore its gas-to-liquid refinery at Mossel Bay should come as no surprise to connoisseurs of the ANC government’s corrupt contracts (“PetroSA defends decision to have Russia’s Gazprombank as partner”, December 11).

The fingerprints of state capture are generously displayed. Define the specs to suit a single contractor; choose a Russian party where opacity is guaranteed; choose an amount large enough to hide significant kickbacks; make the investment seem indispensable.

Former president Jacob Zuma wanted to push through a nuclear deal with the Russians. In those early days of state capture, R1-trillion seemed a nice round number. Even 10% of this unimaginable sum comes to R100bn. Now his successors are forced to cobble together many far smaller amounts to set up offshore accounts for the day the gravy train is derailed.

While we know from the Zondo state capture commission that 10% is probably less than the target amount, it still comes to R379m. The Russians hold the money for the nominated beneficiaries in accounts that are well beyond the scrutiny of Western institutions.

Dependence on its Russian counterparties is what keeps the ANC loyal to Vladimir Putin and forces them to antagonise our more important trading partners in the West. It’s also what keeps them travelling to Moscow.

Just because a few billion spent on Mossgas doesn’t seem like much in comparison with the other insane amounts is no reason not to oppose this deal all the way to the highest court.

Michael Fridjhon
Parktown

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