How Estina’s bank account went from R16 to R30m in the blink of an eye

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The influence of the Guptas was perhaps most powerfully felt in the Free State due to the extraordinary hold they had over provincial MECs. Moneyweb Zondo StateCaptureReport

The influence of the Guptas was perhaps most powerfully felt in the Free State due to the extraordinary hold they had over provincial MECs. Of all the many reports of corruption involving the Guptas, the Vrede Dairy Project in the Free State stands out as perhaps the most chilling because of the extensive web of corrupt connections needed to pull it off. The story of this grand heist is laid out in the latest Judicial Commission of Inquiry into State Capture Report.

When a team from National Treasury visited the site in 2013, they found water rights were not in place, the list of beneficiaries was not provided, no business plan and no feasibility study. When the feasibility study was eventually received, the anticipated milk yields were deemed highly unrealistic, and there was no evidence to support the claim of helping small farmers.

 

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