Today's Big Stories

State-owned IDC funded bulk of Gupta uranium mine company - reports

The Gupta family insists that their relationship with government is above board, despite the ongoing outpouring of information which suggests otherwise.

Financial Mail editor Rob Rose revealed that in 2010 the Guptas bought their mining company Shiva Uranium with R250 million of funding (90% of the purchase price) from the state-owned Industrial Development Corporation (IDC).

According to Rose, the loan was meant to be repaid in 2013 but the IDC chose to cut the interest rate instead and convert the debt into a 3% share of the company.

It seems innately weird that they would take a R250m loan and convert that into 3% of a company that costs R270m to buy entirely in the first place.

Rob Rose, Financial Mail editor

Listen to the full conversation from CapeTalk's Breakfast with Kieno Kammies:


Recommended

by NEWSROOM AI
Read More
Veterans and ANC not on same page about terms of consultative conference

Veterans and ANC not on same page about terms of consultative conference

ANC vets want civil society groups present at the consultative conference, which they want held separately from another meeting.

Top SABC journos applauded for brave testimony

Top SABC journos applauded for brave testimony

EWN's Gaye Davis summarises the evidence of the SABC journalists who appeared before the ad hoc committee in Parliament.

If you're gona be a hero (and smash a car window), make sure you can prove harm

If you're gona be a hero (and smash a car window), make sure you can prove harm

A criminal lawyer explains what leg citizens can stand on if they witness a child or pet locked in a vehicle in risky conditions.

SABC 'in contempt of court' if Motsoeneng reports for duty, says DA

SABC 'in contempt of court' if Motsoeneng reports for duty, says DA

The DA's James Selfe says it is not clear whether SABC's Hlaudi Motsoeneng will be either fired or suspended pending an inquiry.

'The New Age', 'ANN7' pushing Gupta propaganda with govt's help, says expert

'The New Age', 'ANN7' pushing Gupta propaganda with govt's help, says expert

Prof. Jane Duncan unpacks how the Guptas have used their media companies to push a political agenda and how government has helped.

Why the Gupta family's alleged deal with Denel is dubious

Why the Gupta family's alleged deal with Denel is dubious

Investigative journalist Stefaans Brümmer unpacks claims that Guptas may benefit from a deal with state-owned arms company Denel.

Popular articles
[LISTEN] Mother of three opens up about perinatal depression

[LISTEN] Mother of three opens up about perinatal depression

Pregnancy and the transition to motherhood can cause stress for many women. This can negatively affect their psychological health.

Concourt ruling on cannabis needs to filter down to cops, says dagga couple

Concourt ruling on cannabis needs to filter down to cops, says dagga couple

Myrtle Clark and Julian Stobbs, dubbed the dagga couple, have been trying for years to have dagga legalised.

ConCourt rules dagga legal for private use, but what is private?

ConCourt rules dagga legal for private use, but what is private?

Associate Professor of Law at Wits University James Grant says the ConCourt did not define what private use was.

'What took big banks so long to shut Gupta accounts?', Pieter-Louis Myburgh asks

'What took big banks so long to shut Gupta accounts?', Pieter-Louis Myburgh asks

Journo Pieter-Louis Myburgh says other banking execs need to be questioned about their potential complicitness in the Gupta saga.

Cape Town dams on 70% for the first time since 2015

Cape Town dams on 70% for the first time since 2015

Cape Town's dam levels have hit the 70% mark but experts say Capetonians still have to be cautious in their water consumption.

[WATCH] Dad stops baby from crying, Emmy acceptance speech turns into proposal

[WATCH] Dad stops baby from crying, Emmy acceptance speech turns into proposal

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone viral'.

Eusebius: 'You are a political coward'

Eusebius: 'You are a political coward'

Eusebius McKaiser, wearing his political anlayst hat, gives unsolicited advice to Mmusi Maimane.

17-year-old learner killed teacher for not allowing him to jump the food queue

17-year-old learner killed teacher for not allowing him to jump the food queue

Spokesperson for Education department says the fact that this learner is still in Grade 10 at 17 may indicate there is a problem.