Durban - At the time, the deal was worth about R9 billion.
The shares were bought by the Public Investment Corporation . Some of these shares were later sold to the Elephant Consortium. At the time, the deal was criticised as a get-rich-quick scheme for the politically connected. The main role-players were Andile Ngcaba, a former director-general of communications and Smuts Ngonyama, a former national spokesperson for the ANC.
Ngonyama reportedly made about R160m on the deal. He defended it with the now famous quote, “I did not join the struggle to be poor”.
That's how they roll nothing new.
Abramjee Gone to anc member families. TaxJustice_SA
Does anything ever go right under the ANC government?
The country is owned by the dogs😏,I wish five years could come already!
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