Sale of ANC Hitachi stake makes Nkandla look like a warm-up – Helen Zille

2014-03-01 15:37

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Chancellor House’s sale of its Hitachi stake – tantamount to the ANC benefiting from South Africa’s power emergency – is a scandal that should infuriate South Africans, DA leader Helen Zille said.

“I can summarise the situation like this: Zuma’s ANC is getting contracts from Zuma’s government, contracts which they then mess up, causing big delays and power emergencies for the whole of South Africa, which makes more people unemployed, and then Zuma’s ANC sells their shares and use the profits to get him re-elected,” she said at the launch of the DA’s Mpumalanga election campaign in Nelspruit.

Chancellor House, the investment arm of the ruling party announced on Friday that it had sold its 25% stake in Hitachi Power Africa, which had controversially benefited from state-funded contracts.

The shares in the Japanese firm’s African subsidiary were sold to Hitachi Power Europe for an undisclosed amount.

“The announcement even stressed that the price is very confidential, so that no one will be able to calculate exactly how much is going in to the election coffers of Zuma’s ANC,” she said.

“It is a scandal, and all South Africans should be furious. It makes Nkandla look like a warm-up.”

Zille said Mpumalanga would probably be the province to benefit most if South Africa’s economy was growing and creating jobs.

“There would be tens of thousands of new jobs in this province – in mining, in transport, in new power stations, and in hundreds of other businesses.

“But Mpumalanga is not growing, under Jacob Zuma’s ANC, our progress is being reversed,” she said.

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