From Russia with very expensive love - Karyn Maughan on SA's bombed nuclear deal

Loading player...
Jacob Zuma's presidency will be remembered for the wholesale looting of South Africa's fiscus by him, his family, his friends the Guptas, and the political party he led - but don't forget how close we came to indebting future generations with a Russian nuclear deal. The former President was hellbent on pushing the deal through despite National Treasury explaining we had no foreseeable way to fund it. Some very smart litigation by NGO Earthlife Africa ultimately scuppered the deal which the Energy Department was attempting to sneak through. In their new tell-all book, Nuclear: Inside South Africa's Secret Deal, Karyn Maughan and Kirsten Pearson make the minutiae of the R1tn nuclear deal with Russia understandable and digestible. The authors bring to life the narrative of those behind the failed nuclear project including interviews with Zuma himself, the former Energy Minister Tina Joemat-Pettersson, and others. In this interview with Maughan, BizNews deputy editor Michael Appel seeks to better understand the dynamics behind the failed nuclear deal. Plus, an update on the current state of Zuma's arms deal corruption trial. Learn more about your ad choices. Visit megaphone.fm/adchoices
18 May 2022 9AM English South Africa Investing · Business News

Other recent episodes

He built a $1.5bn bank. Now Revolut, Discovery Bank and PEP are circling

In this interview with Irakli Rekhviashvili, Tyme Group co-founder Coenraad Jonker gives his take on what actually protects a digital bank once the competition catches up, and why he thinks the old rules of banking no longer apply. On competitive advantage, he says: "I'm saying to my guys increasingly, I…
11 Sep 7AM 50 min

BNC#9 | Masie Q&A: Eskom's extra gigawatts are AI's gateway into SA economy

Stafford Masie says the AI industry is not actually running out of electricity, it is running out of places to plug in. The real bottleneck for OpenAI and Anthropic in the United States is grid connection points that can absorb the violent power swings inference computing demands, without blowing transformers…
10 Sep 11AM 39 min