This site requires JavaScript to be enabled. Please enable JavaScript in your browser settings, or upgrade to a modern browser.

How a Gupta company with R16 in its bank account scored R280m

Loading player...

An IT guy with no dairy farming experience was the face of a Gupta company - Estina - that had less than R20 in its account when it got its first prepayment of R30m from Free State coffers. Estina - through its frontman Kamal Vasram - a guy who worked retail for the Guptas’ Sahara Computers, was paid R280m in eight payments between July 2012 and May 2016 to run a dairy farm in the eastern Free State town of Vrede. The project was a disaster and little more than a money laundering opportunity for the Guptas. Michael Appel breaks down the findings from Zondo's latest report. Learn more about your ad choices. Visit megaphone.fm/adchoices

28 Jun 2022 7AM English South Africa Investing · Business News

Other recent episodes

Solly Moeng: Vote out “all these mad men and women in politics”...

In his latest interview with Chris Steyn, political commentator Solly Moeng comments on President Cyril Ramaphosa’s poor handling of the immigration (and other) crisis; the mysterious social media campaign to position Freedom Front Plus Minister of Correctional Services Pieter Groenewald as a future president; questions about the R30 million “donation”…

9 Jun 5AM 17 min

BN Power Lunch: Joburg's Budget crisis, the $3tn IPO wave, and what it means for SA markets

Johannesburg's new budget lays bare a city in financial distress: less than 10 days of cash reserves, a R220 billion infrastructure backlog, and revenue targets that ignore the fact that nearly half its water never gets billed. Alec Hogg dissects the numbers that every ratepayer and bondholder should see. Then:…

9 Jun 5AM 26 min

BN Daybreak - Tue 9 June 2026: OpenAI and SpaceX IPOs; Israel-Iran truce; PPC profits; FIFA tourism struggles

In today's Daybreak episode, OpenAI files for a fall IPO and SpaceX’s oversubscribed listing targets a $1.8 trillion valuation. Meanwhile, Israel and Iran ease strikes after Trump's intervention. Locally, a new AGOA proposal allows South African firms to opt out of BEE to avoid US tariffs, PPC's 84% profit surge…

8 Jun 11PM 15 min

The loudest room in South African finance: JSE floor traders reunite 30 years after the screen took over

In June 1996, the JSE's open-outcry trading floor fell silent forever. Thirty years on, Irakli speaks to Bernie Montgomery — clerk-turned-broker — who recalls the chaos, camaraderie, and colourful lunches that defined an era before the screen took over.

8 Jun 9AM 5 min

BizNews Power Lunch: Markets don't reward good results — they reward surprises

Omnia and Sygnia deliver standout half-year numbers and shareholders cheer. PPC posts 84% profit growth and the stock drops 3.5%. Alec Hogg unpacks three SENS announcements that tell you everything about how markets actually work — and why beating expectations matters more than beating last year.

8 Jun 7AM 11 min

All episodes