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19 Jul, 22 tweets, 29 min read
1. We all saw the #destruction caused by visible #looting in #SAUnrest & communities are reeling from the impact. But about 1000 times of what it will cost to repair last week’s damage, was “invisibly” looted through #StateCapture & #corruption. Here are some highlights
2. According to @ShadowWorldInv1 the #ArmsDeal of the 1990’s cost SA an estimated R2,2 billion looted to pay bribes and kickbacks. To date nothing has been recovered. Money that could have changed the poor’s lives wasted on #GrandScaleLooting.
3. In 2015 @CompComSA found #construction companies #GroupFive, #WBHO, #BasilRead, Murray&Roberts, #Aveng & #StefanuttiStocks guilty of #colluding when building 2010 FIFA World Cup stadiums. This added R14 billion to construction costs. (Your taxmoney!)
4. Group Five, WBHO, Basil Read, Murray & Roberts, Aveng & Stefanutti Stocks also overcharged #SANRAL by R760m on #roadconstruction contracts. A fine of R1,4m (for roads and stadiums) was paid into the #NationalRevenueFund. The rest of the #loot was never recovered.
5. In 2009 @SANRAL_za awarded an #etolls collection contract to Austrian company @kapschnet.Tender was for R6bn, contract signed for R11bn. In 2020 #OUTA exposed a R10 million “sweetener” paid to award the contract to #Kapsch. Reported this to authorities. Nothing recovered yet.
6. In 2012 #SASSA awarded a contract to #CashPaymasterServices (CPS, a #Net1 subsidiary) for distributing #socialgrants. A variation agreement was found to be #illegal & Court court ordered CPS to repay R316m. CPS liquidated in 2020. SASSA still battling to recover the #loot.
7. From 2004 to 2018 Dept of Correctional Services (DCS) contracts worth R12bn were awarded to #Bosasa. Millions of SA’s taxes were used to pay kickback & bribes to @MYANC, ministers, MP’s and DCS officials. Nothing recovered to date.
8. Millions paid to #EOH for contracts with @DWS_RSA, #DeptofDefence, #NPA & @CityofJoburgZA. #ENSAfrica found EOH could not account for R700m (no work done) & R160m (dubious work).Bribes/ “loans” looted from tax- & ratepayers paid to a Deputy Minister,a former #ANCmayor & @MYANC
9. The #PIC as fund manager of Government Employees Pension Funds (#GEPF) lost R21bn due to #SteinhoffCorruption. Nothing done yet by PIC to hold Steinhoff & its directors accountable or recover lost billions. No #NPA prosecution of Steinhoff yet. #CriminalCorporates should pay!
10. #IqbalSurve’s #SekunjaloGroup received R5bn from the #PIC, with the help of ex-CEO #DanMatjila.This was “invested” in Surve’s ventures at massively overvalued share prices, now almost worthless. Again, #pensionfunds money looted with little chance to recover the loss.
11. In 2018/19, #municipalities in #Limpopo lost R1,2 billion after #VBSliquidation. Same report by @AuditorGen_SA showed #irregular municipal expenditure across SA was R32bn & last year R26bn. Money #looted from residents & ratepayers by authorities! Very little recovered.
12. More than R1,8bn #looted via #VBS from stokvels, burial societies & ordinary ppl! Also, 53 individuals/entities (incl. political leaders, mayors & CFO’s at municipalities) got gratuitous payments from VBS for ensuring money from muni’s was deposited at VBS. Towns robbed!
13. Paul Holden of @ShadowWorldInv1 calculated that over R57 billion of our taxes was spent on #StateCapture contracts associated with #Guptas, of which R16,2bn ended up in Gupta pockets!The #looting started in the #FreeState & spread to #Transnet & #Eskom.
14. #Regiments did dodgy advisory contracts with #Transnet & as the fund manager of the TSDBF (Transnet Pension Fund), #Regiments & #Nedbank received millions on unexplained interest rate swap transactions. R5 billion in total #looted. #SIU trying to recover money from Nedbank.
15. Various local and international companies assisted the #Guptas in their #looting. For them to be awarded lucrative contracts, officials at several #SOEs and #govt depts blatantly ignored prescribed #procurement policies, procedures and the #PFMA. No consequences for most!
16. International consultants @McKinsey appointed Gupta aligned companies like #Regiments & #Trillian as local partners, who received millions from SOEs & shared it with #SalimEssa & #Gupta companies. Regiments under #EricWood & #NivenPillay #looted R1,2bn from #Transnet alone.
17.With help from #Transnet officials like #BrianMolefe & #AnojSingh, international locomotive manufacturer @CRRC_global paid R5,6bn in kickbacks to #SalimEssa’s companies in Hong Kong. Most money went through bank accounts held at @HSBC in Hong Kong. No refunds by #CRRC yet.
18. Other international companies who were implicated in #StateCapture and the #looting of the fiscus over a decade, like #KPMG, #Bain, #ABB, #SAP, #TSystems, #PWC etc, should also be named, shamed and forced to #PayBackOurTaxmoney.
19. Let’s also not forget the huge #PPEcorruption in 2020 that seriously hampered SA’s fight against #Covid. Some of these looters are closely connected to political leaders and senior govt officials. The @RSASIU is currently battling to recoup the loot from them.
20. At many other govt depts and SOEs, like #SABC, #Denel, #SAA billions ended up in the pockets of connected individuals or entities. We are waiting for everybody involved in this #looting of our country to be #arrested, #charged, #prosecuted and #jailed, and money #recovered.
Just like SA'ns stood together over the last few days to #StopTheLooting and #CleanupSA, we need to unite in our call for action against #InvisibleLooting aka #corruption.
Do you like #OUTA's work? Then help us do more! Join us here: bit.ly/JoinOUTA
21. #SAA bailouts currently stands at R58.143bn (from 2003/04 to date plus what's included in national Budget up to 2022/23.) But the #business rescue plan still needs more funding: in addition to R3bn promised by #Takatso, another R8.5bn is needed. Stop the #InvisibleLooting!

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More from @OUTASA

14 Feb 19
THREAD: "Time for interventions on specifics. #ESKOM board must ensure #diesel stocks are replenished. Also, ensure water levels restore to upper dams for OCGT plants." -Ronald Chauke.
Ramaphosa: Load shedding a 'hugely damaging reality check' via @Fin24 fin24.com/Economy/Eskom/…
"Exco should give weekly updates on number of irregular contracts being reviewed to be terminated to reduce pressure on #Eskom liquidity. Board should order exco to review procurement practices using middlemen who make Eskom buy at excessive prices."
"We need practical examples from #Eskom on how #costcutting is undertaken. Also, taxpayers wants to see timelines for this. And accountability for decisions at embattled power supplier." - Ronald Chauke, #OUTA's portfolio manager for energy.
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8 Feb 19
We currently have 14 cases at SAPS. But evidence for many more. Time for action against Zwane, Seleke, Gigaba, Molefe, the #Guptas, the #Zumas, Anoj Singh, Mark Pamensky, Hlaudi and others against whom we laid criminal cases in the past 3 years. Plenty of evidence ready for #NPA.
1) #OUTA also made several submissions to the #ZondoCommission (with evidence) on #StateCapture involving
Dan Mantsha, Gupta companies, Matshela Koko, MKMVA, TNA, Sinqumo Trust (Zuma's wife's trust), Trillian, Free State Premier's Office,
Transnet Second Defined Benefit Fund.
2) #OUTA also made submissions (or are in the process of submitting) evidence to #ZondoCommission on #StateCapture at #SABC, #ESKOM, #Denel, #SAA and #Transnet. We are in regular contact with investigating officers on all of this.
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