Kapsch Sweden used to be SAAB Aerospace, a 50% shareholder in a company called SANIP. British Aerospace held the other 50%. SANIP is alleged to be the payment vehicle used by SAAB and BAE to pay the alleged bribes of around R100Million in the Arms Deal saga to ensure that the Gripen fighter was chosen.
The names Hlongwane, Modise, ANC, Zuma, Shaik figure prominently in the list of alleged recipients.
So why Kapsch Sweden, not the corporate entity? I leave it to your imagination.
How much? According to the corporate structure used to implement e-tolling in SA, about 80c of each rand of profit can be repatriated to Austria via Sweden. Gauteng alone expects to generate about R350Million a month in toll fees.
Assuming a very conservative 10% profit available to be repatriated, that means about R28Million a month to go overseas"
If your reaction is nonsense. Africa is well known for Goverments that drain their own people. Self enrichment is part of South Africa and the rest of Africa's political goal. Politics is bussiness. Sell your soul and pay e toll.
ReplyDeleteSell my soul......se gat!!!
DeleteSell my soul......se gat!!!
DeleteThere must be quite a bit more going overseas - and some of that coming back into the country.... Straight into President Zuma and friends' bank accounts.
ReplyDeleteSouth African Fat Cats operating again - makes you want to vomit
ReplyDeleteThis issue is so convoluted and filled with "legal speak" that people on the ground have no chance of understanding the impact. That this is a mess on many levels in SA is obvious.
ReplyDeleteMy comment is that is this not a new way that corporations in the developed world dupe developing countries (who either don't have the legal and business sophistication, or who have decision makers looking to line their own pockets) are deciding to do business. The 20 yr business model for the toll roads (which will eventually go through) is astounding:
http://www.outa.co.za/wp-content/uploads/2012/04/Calculations-on-E-Tolling-vs-Fuel-Levy-Model-3.pdf
Those with the knowledge of how to hide behind political connections and access to massive legal resources are going to be getting away with a lot more than what we can comprehend.
No wonder SANRAL is fighting tooth and nail to keep the details of the Kapsch contract secret. They have now classified Kapsch (or ETC) as a service provider in order to hide the money being paid overseas. This means it does not appear as a overhead or administrative cost.
Deletetolling not on the net any longer
ReplyDeleteThe whole nation is asking this same question!!
In the South African Parliament recently, an MP during his speech told a story........
"There was a father who gave 100 Rand - each to his 3 sons and asked them to
buy things and fill up a room completely.
First son bought hay for 100 Rand - but couldn't fill the room entirely.
Second son bought cotton for 100 Rand - but couldn't fill the room entirely.
Third son bought a candle for 1 Rand - and lit it up and the room was filled with light completely.
"The proud MP declared: "Our President Jacob Zuma is like the third son.
From the day he has taken charge of his office, our country is filled with the bright light of prosperity"
A voice from the backbench asked "Where is the remaining 99 Rand -??
Now the whole nation is asking this same question!!!
these thieves should be treated like any of the politicians implicated in crimes against their own people, they are as guilty as those that commit genocide, they are starving their own and by the nature are worse than mass murderers
ReplyDeletebut what is the most astounding off it all is that the Western World governments condone the practice because the money they steal in Africa is placed in the banks of the so called righteous governments that put themselves on pedestals and demand that the Hague runs criminal cases against the leaders of these tin pot countries.
Lets start looking at those that turn a blind eye to this theft of nations and but them on trial