Quote of the week

The recommendation for criminal charges is particularly applicable to Mr Anoj Singh and Mr Koko, who by false pretences led Eskom, through the officials who processed the R659 million payment, to believe that the R659 million payment was in the nature of pre-payment for coal, as was the R1.68 billion pre-payment, later converted into a guarantee, when in truth and fact they knew that the prepayment and the guarantee were needed to enable the Guptas to complete and save the sale of share transaction.

State Capture Commission Report
Volume 4, Part IV
31 May 2010

Even where Malema is apparently pursuing radical change, in the mining industry, he is in fact helping to entrench the spoils system at the heart of Mbeki’s ANC. He recently complained that “those who go around spreading lies and rumours linking the ANC Youth League to big business people should stop doing so because it is not funny anymore”. However, as this column has previously observed, Malema is fronting a putsch by Mbeki-era apparatchiks to create a state-owned mining company. Malema’s presentation to Parliament’s mining portfolio committee last week contained some comic gems. Those who do not yet know how the spoils will be distributed should take note of Malema’s insistence that the state-owned mining company should be “under the direct supervision of the Department of Mineral Resources” and “not public enterprises”. – Anthony Butler in Business Day

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