DAYS OF ZONDO: KER-CHING! ‘Dairy’ company’s bank balance shot from R16.98 to more than R30-million – in just one day

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DAYS OF ZONDO: KER-CHING! ‘Dairy’ company’s bank balance shot from R16.98 to more than R30-million – in just one day By Erin Bates

the Commission of Inquiry into Allegations of State Capture, Corruption and Fraud would “hear and establish exactly what happened between the Gupta family, then president Jacob Zuma, and officials who worked as willing enablers”, including former mineral resources minister Mosebenzi Zwane.has proven weak and provided little in the way of revelation on the Vrede Dairy Project, the role of political players like Zwane and links to the Guptas.

The point is, the project was not properly implemented, it was profoundly mismanaged. Emerging farmers from the township of Thembalihle in Vrede and surrounds enjoyed no material benefit from the scheme. Thabethe failed in his duties. The majority of his stilted testimony covered boring technicalities. However, documents sourced by the Commission’s legal team reveal Thabethe’s negligence in signing away millions of taxpayers’ money intended for development.

On 5 July 2012, when Thabethe signed the amended agreement, Estina did not have agriculture, farming and related activities listed among its functions. It would only add those functions to its business profile later that year.You were preparing to give Estina a large amount of money, you were giving them certain responsibilities. They said they had R228-million that they could put into the project,” said Gcabashe.

 

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Estina had R16, before the R30 million deposit - Zondo Commission hears - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The Commission of Inquiry into State Capture in Parktown, Johannesburg has heard how Estina had R16 in its account the day before the R30-million was deposited.
Source: SABC News Online - 🏆 32. / 51 Read more »