The state of Capture Report of 2016 revealed a lot, but as the days go by the familiar state of connection between the Zuma Administration, the ANC and their bedfellows Gupta’s, are so close that the use of the word ‘Grand Corruption’ is to weak. It isn’t just cases anymore, the whole system seems partly corrupted and controlled from business and into departments that issues government contracts. This all gives profits and good contracts to mates and business-partners instead of getting the best deal for the money on the tax-payers money.
Therefore, that the KPMG scandal shows the possible troubles with the coal-deals done with the state, between Gupta Companies and their trading. As the Executives and Chairmen of the board resigning today. Proves the influence and the problematic relationship between the state and the Oakbay Resources. If it wasn’t so, the audits and the reports from South African Revenue Service (SARS) and their ‘Rouge Unit’ look into the wealth created by KPMG wouldn’t be as hectic as it is now.
Every single piece of the transactions and revelation in the Gupta involvement within the Coal Industry, has clearly showed the massive undertaking and the steps done by the ANC to accept the corrupt acts of the corporation. It is not like anything else can be said after years of new drip-drops of knowledge. To look away and say it is nothing. That is to be ignorant and directly close you eyes as the money are bent and shifted in darkness, while the traders hope the public doesn’t get a whiff of the transactions and agreements. Now that they have, the reports and the trying to silence it proves it.
Just like the government tried to stop the ‘State of Capture’, the way they never wanted the people to know what was in the Denton’s report, they don’t want SARS or Pravin Gordhan to deliver the news. They want it in silence, because they know the firepower in the report of the Rogue Unit! If not, the KPMG would have had so many people resigned over the tax issues considering the trades of Oakbay, as said in their own report:
“KPMG South Africa provided limited transaction support services to the Guptas in connection with their interest in acquiring the Optimum Coal Mine (OCM) from Glencore. These services included approaching Glencore to express interest in acquiring OCM, and subsequently assisting with early negotiations with the Business Rescue Practitioners appointed by Glencore. The firm also built a financial model reflecting assumptions to assist in the development of a purchase price offer” (KPMG, 15.09.2017).
And you know the KPMG know of their guilt, when they do this: “Given the failure to appropriately apply our own risk management and quality controls, that part of the report which refers to conclusions,
recommendations and legal opinions should no longer be relied upon. KPMG South Africa has contacted SARS and offered to repay the R23 million fee received for the extensive work performed, or to make a donation for the same amount to charity” (KPMG, 15.09.2017).
So the KPMG has acted wrong and not paid their taxes, secondly not acting righteous with their audting, as the Eskom, Oakbay and Glencore deal was in dire need of justification and of trustworthy values, as the core delivery of coal and the profits being raised for the private on the state reserves, this as the Gupta family and the ANC accepting the massive breaches, as the audit was initially rubber-stamping the agreement and giving it valid grounds.
Clearly, the KPMG scandal isn’t just another corrupt agreement, it is another peel of the onion. The more we peel, the more the system is crying. The more people is implicated and the deeper dig. Shows the systematic and procedures done to secure the transaction in favor of Zuma and the Gupta’s. Not for the greater good of South Africa. That is really disrespecting the Republic and it’s government. Peace.
MinBane 