Arms deal cost R46.6bn - report

2014-04-10 08:37
(Picture: AFP)

(Picture: AFP)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Johannesburg - The arms deal cost R46.6bn, The Star newspaper reported on Thursday.

The daily said that was the official figure for the controversial 1999 defence procurement package from the National Treasury.

Treasury deputy director general Andrew Donaldson gave the "total nominal expenditure on the SDPP [Strategic Defence Procurement Package] between 2000/01 and 2013/14".

The deal was financed with loans from foreign banks, with loan costs totalling R51.3bn.

He was testifying before the Seriti Commission of Inquiry in Pretoria, which is headed by Judge Willie Seriti and is investigating allegations of corruption in the arms deal.

President Jacob Zuma appointed the commission of inquiry in September 2011, after the Western Cape High Court was asked in 2009 to appoint an independent judicial inquiry into the arms deal.

The commission was supposed to have concluded its work by last November but asked Zuma for a 12-month extension after several delays, including the resignation of senior inquiry officials.

Read more on:    military  |  arms deal  |  government spending
NEXT ON NEWS24X

SHARE:

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
68 comments
Add your comment
Comment 0 characters remaining

Inside News24

 
/News
Horoscopes
Aquarius
Aquarius

Good intentions are not good enough... ultimately we are measured by our actions. Now is the time to build on your ideas. Create...read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.