for subscribers

Last kick of Gupta horse: attack Hogg, Bruce as 'captives of white capital'

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

Peter Bruce described the piece below as “hilarious”. Having had papers served on myself and Biznews by a London law firm, I certainly didn’t share his mirth when this editorial appeared in Gupta Media earlier this week. There was even a fleeting moment of considering a counter suit. But I’d have to stand in a long line.

Because there is a queue of South Africans lining to recover as much as they can of ill-gotten Gupta gains. The damage wrought on South Africa by this single family of Indian immigrants is incalculable. Bankers whisper of a R6bn profit banked by trading the Rand ahead of Nenegate. Marketing teams at public enterprises shake their heads at tens of millions splurged on worthless events hosted by Gupta Media. And then those hundreds of public sector contracts for various other goods and services procured from the family’s businesses.

But it hasn’t just been financial. Ask those Eskom managers on long-term suspension after rejecting Gupta delivered coal because of poor quality. Or the team at Kumba which were forced to spend thousands of man hours defending the ludicrous minerals rights claims by ICT. The response from this rapacious family has been consistent: “We are gifted businessmen who generate big profits from anything we turn our hand to.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
17.38
(-0.05)
ZAR/GBP
22.72
(-0.10)
ZAR/EUR
20.56
(-0.12)
ZAR/AUD
12.45
(-0.12)
ZAR/JPY
0.16
(-0.19)
Gold
1942.90
(+0.07)
Silver
26.42
(+0.07)
Platinum
941.16
(+0.46)
Brent Crude
44.74
(-0.36)
Palladium
2104.73
(+0.41)
All Share
57077.48
(-0.60)
Top 40
52737.48
(-0.65)
Financial 15
10156.41
(-0.69)
Industrial 25
75107.47
(-0.84)
Resource 10
58926.78
(-0.40)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1009 votes
It depends on how the funds are used.
74% - 6760 votes
No. We should have gotten the loan elsewhere.
15% - 1424 votes
Vote