Stripping of public enterprises increased sharply under Lynne Brown

25 May 2017

“The stripping of public enterprises by a small group of public servants and their connections in private enterprises has reached the intensity of a school of piranhas stripping their prey’s flesh from its bones,” says adv. Anton Alberts, FF Plus parliamentary spokesperson for public enterprises.

According to adv. Alberts, the intensity of the stripping has increased hand over fist under minister Lynne Brown.

“Under the minister’s supervision we have witnessed the most bizarre and blatant forms of state capture and it just keeps running on like a bad horror movie. The script may very well be intriguing, but the execution of the state capture is so obvious that one is not surprised when yet another state capturer is exposed.

“It’s like the capturers know that they can act with impunity so they don’t even go to the trouble of trying to conceal their handiwork.

“For those who feel brave enough to watch this horror movie, the fact that the same suspects make their appearance time and again will become evident soon enough:

-  The Gupta-linked Regiments Capital had settled nicely into Transnet after its profitable BEE Capitec shares transaction. With some help from their friend, Stanley Shane, they were appointed to perform tasks that Transnet could have done for itself. Mr. Shane went ahead and became the chairperson of the two struggling Transnet funds while the pensioners of these funds are currently entangled in a R80 billion court case against Transnet due to the stripping of their funds. Out of nowhere, Regiments was appointed as the fund manager of the two struggling pension funds. And then Regiments was recently removed after a conflict of interests transaction came to light.

These kinds of things are happening right in front of the minister, while she knows that thousands of black and white Transnet pensioners live in poverty. Many of them even commit suicide due to their desperate situation. I pleaded with the minister to do something for these people, but my plea fell on deaf ears and now I have to hear that she even allowed the Guptas to come near these pension funds. It’s a shame that she allows thousands of her old employees to die of poverty on her watch. If she has a heart, she must act on this.

-  Regiments has transformed to Trillian Capital Partners and now there’s no holding back in stripping Transnet. But wait, there’s more to the saga and the script gets even better: Trillian has penetrated deep into ESKOM with multi-million rand contracts for who knows what. And of course, the ESKOM connection brings us to a certain individual named Brian Molefe, the chief executive officer or ex-chief executive officer, or current chief executive officer, or maybe not, of ESKOM. He is also a part-time member of parliament.

It’s a bit confusing. But whatever Mr. Molefe is or does, except for making payments in advance to Tegeta, we know this: he gets a lot of money from ESKOM for simply being in the vicinity – even when he is hanging around parliament. He was also the chairperson of Transnet when the two pension funds were looted. His only reaction to the plight of the pensioners was to tell them that they don’t deserve any better because they were previously advantaged and that he would “wait” for them should they ever decide to march to the Union Buildings regarding this matter. Mr. Molefe is really very brave when it comes to threatening old people.

“I just want to tell Mr. Molefe that he will pay. The FF Plus will make sure that he and everyone else stealing from the pensioners, will declare themselves bankrupt and end up in prison. You may be living in luxury now, but the wheel is turning!

-  The Gupta tentacles are everywhere. Even at Denel we have VR Laser, Essa Salim and Gupta partner, standing at the ready to take part in the marauding. There are numerous other business opportunities in which this resourceful family is also involved.

“All these things are happening right under the minister’s nose. She has to act. If she doesn’t do something soon, we’ll know that she is also in the Gupta’s pocket,” says adv. Alberts

Issued by Adv. Anton Alberts, FF Plus chairperson and parliamentary spokesperson: Public enterprises, 25 May 2017