Kapsch: R669.8 million a year from e-tolls!

2013-06-12 13:55
Remember Kapsch? They were the company involved in the Armsgate scandal, already proven overseas to have paid at least R100 million in bribes. (Some very prominent South African politicians' names were mentioned in this context too...)

Now Kapsch have just publicly announced that they will be getting almost R700 000 000 a year from SA's e-tolls when the system goes live.

So much for 'improving our roads.' Kapsch posted three straight quarterly losses for the year ended March 31st this year, and have seen net income for their fiscal year decline by 39%.

Well we now have TWO good reasons for not buying e-tags: 1) to get back at Scamral for embarking arrogantly on a non-transparent twenty-one billion rand deal (with a massive likelihood of big bribes being given), and 2) to give Kapsch a nice klap for robbing our country in the Armsgate deal, where we now have planes that are 'mothballed' and submarines that don't work.Finally justice prevails! Do NOT buy e-tags under any circumstances.
NEXT ON NEWS24X

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
4 comments
Comments have been closed for this article.

Inside News24

 
/News
Lockdown For
DAYS
HRS
MINS
Traffic Alerts
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.