Arms deal cost more than R46 billion

By Drum Digital
11 April 2014

The arms deal expenditure stood at R46 billion according to testimony given by Treasury deputy director general

The arms deal cost R46.666 billion, reported The Star newspaper.

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

"The total nominal expenditure on the SDPP [Strategic Defense Procurement Package] between 2000/01 and 2013/14 has been R46,666 million," Treasury deputy director general Andrew Donaldson said.

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.

-          Sapa

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