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In ad­di­tion to the ju­di­cial in­quiry, Madon­sela also refers in her re­port to a sec­ond phase of the in­ves­ti­ga­tion into state cap­ture, which will look into:

The award­ing of li­cences to the Gupta fam­ily and state fi­nanc­ing of Gupta-Zuma busi­ness in­ter­ests;

The Bank of Bar­oda in re­la­tion to the pur­chase of all shares in Op­ti­mum Coal Hold­ings by Tegeta and the re­ha­bil­i­ta­tion fund which was spent;

Whether any state func­tionary or or­gan acted cor­ruptly “in con­nec­tion with ex­change of gifts” with the Gup­tas or their com­pa­nies;

Im­proper con­duct in­volv­ing state-owned en­ti­ties, which in­clude Transnet, Denel, SAA and the SABC;

The award­ing of con­tracts to Tegeta to sup­ply coal to Ma­juba Power Sta­tion; and

Whether Zwane was sanc­tioned by the pres­i­dent to sup­port Tegeta’s bid to buy the Op­ti­mum mine, abus­ing his po­si­tion as a min­is­ter to un­duly in­flu­ence the con­tract at the ex­pense of the state.

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