Economic hit men at work
PRESIDENT Jacob Zuma, in his question-and-answer session in Parliament last week, was adamant he would press ahead with the nuclear power project, notwithstanding Finance Minister Malusi Gigaba stating it was not affordable.
And media reports said Energy Minister David Mahlobo was rushing the plan which could be ready in two weeks.
South Africa’s economic woes can largely be blamed on the failure of the Anc-led government to implement its much-vaunted economic policies.
The country’s problems, however, are worsened by an organised conspiracy to raid its national purse by a few economic hit men, aided and abetted by an impervious president.
In his Confessions of an Oliver Twist where the lad learnt to be light-fingered.a reader says his lot had nothing on the large-scale plunder taking place in the Presidency. Economic Hit Man, author John Perkins describes economic hit men as politically exposed people who raid and expatriate funds from developing countries’ national coffers, with the tacit knowledge and connivance of the countries’ rulers, under the pretext of providing “much-needed” public infrastructure.
When these countries default on servicing debt incurred in fulfilling public projects, economic hit men call in their pound of flesh. They usually effect this by demanding concessions – on their terms – in respect of the country’s mineral resources or votes at crucial UN meetings.
Countries are therefore compelled to cede their sovereignty to foreigners who are financial benefactors of the president.
South Africa’s economic hit men include the Gupta family and, ostensibly, Russian and Chinese oligarchs.
Zuma’s greed knows no bounds. He and his economic hit men are single-minded in cheating South Africa to undertake the nuclear project solely designed to enrich themselves.
South Africa has a president who has a simple plan: plunder the scarce resources of the country by any means necessary and, as suspected, flee the country to escape accountability after repatriating ill-gotten gains.
JAYRAJ BACHU Clare Estate