BizNews BizNews Radio

Appel and Erin Show: Estina laundromat - where were the banks?

Loading player...
In the latest episode of the Appel and Erin Show, the infamous Gupta-linked and corruption-riddled Estina dairy project in the sleepy town of Vrede is in focus. BizNews deputy editor Michael Appel and Advocate Erin Richards discuss how R280m in taxpayer money, paid to the Gupta entity in eight tranches, made its way through our financial system. According to the State Capture Inquiry, some 82% of the funds paid to Estina by the Free State Agriculture Department was laundered into Gupta shell companies. The funds were paid to Estina's FNB and Standard Bank accounts by the Free State government between 2012 and 2016. Learn more about your ad choices. Visit megaphone.fm/adchoices
17 May 2022 12PM 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
All episodes