Many young white people are encouraged by their parents to just “move on” with the business of the future, writes Adriaan Basson.
The Pretoria High Court ruled that payments from the state-owned power utility to the Gupta-linked advisory firm were 'unlawful and invalid'.
Transnet is in the process of recovering billions lost by its directors and companies which benefited from irregularly awarded contracts, Chairperson Popo Molefe said.
Isaac Shongwe is founder of Letsema Holdings, the black-owned consulting firm that was frozen out of a lucrative Transnet deal by Gupta-linked Regiments and Trillian. His company felt first-hand the damage wreaked by state capture.
The consulting firm, which last week repaid almost R1bn in fees, has apologised for overcharging Eskom and for being slow to admit wrongdoing.
Transnet chief financial officer Garry Pita, who signed off on invoices authorising the state-owned firm to pay R74m to Gupta-linked Trillian Capital Partners, has resigned.
The president now has 14 days to submit comments on the Public Protector’s report, and provide a report to Parliament on what action he will take against Brown.
Global consultancy McKinsey says it has written to Eskom five times since October to arrange to pay back the R1.028bn it earned for consultancy work, but Eskom has taken no action.
Scorpio and amaBhungane can reveal that Eskom ignored five legal opinions warning the utility that its contentious “at risk” consulting contract with McKinsey was probably illegal.
State-owned airline SA Express has also done business with Gupta-linked consultancy firm Trillian Capital, according to a written parliamentary reply.
Gupta lieutenant Salim Essa's Trillian Holdings, which owned 60% of Trillian Capital Partners, has sold all of its shares to Trillian CEO Eric Wood.
Trillian Capital partners was paid R93m by Transnet for being a lead arranger of a R12bn club loan. However, the firm had no role to play in securing the deal, the state capture commission of inquiry heard.
The law firm that provided a trust account to house funds for Cyril Ramaphosa's ANC election campaign has denied claims of Gupta/Trillian links to one of its directors.
Public Enterprises Minister Pravin Gordhan said the actions of controversial contractors Regiments and Trillian would be investigated by newly appointed boards of state-owned entities and the Judicial Commission of Inquiry into State Capture.
The Department of Public Enterprises reacted to the resignation of Transnet's chief financial officer Garry Pita by saying stepping down does not absolve him of accountability for possible wrongdoing.
The Eskom inquiry resumes on Tuesday. A forensic company which investigated allegations of irregular payments made to Trillian will present its evidence.
Eskom's payments to McKinsey and Trillian were criminal and a deliberate and fraudulent circumvention of the power utility’s supply management processes, the NPA has found.
About three-dozen shell companies allegedly received payments from Gupta-associated companies linked to the controversial China South Rail-Transnet contract, according to a report by the OCCRP.
Former Trillian Capital Partners executive Bianca Goodson details in her affidavit how the company allegedly milked the state.
McKinsey & Co is reviewing hundreds of thousands of documents related to Eskom as part of a probe that includes any interactions with Trillian Capital Partners.
Independent, non-executive chair of Trillian Capital Partners, Tokyo Sexwale, says there is more to the inquiry into the financial services provider than meets the eye.
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