Licence to Loot: How SA's parastatals got to the point of collapse

Journalist at Business Day and the Financial Mail Stephan Hofstatter is the author of a book entitled "Licence to Loot."

The book is a hard-hitting observation of the systematic raids on SA's parastatals to the point of collapse.

He speaks to CapeTalk's Kieno Kammies about his book and the looting of the country by politicians.

The book, in essence, is about how we got to the point where the looting of the fiscas actually threatened to topple the entire economy and the reason for the that was really the looting of Eskom which is biggest state-owned entity.

Stephan Hofstatter, Journalist at Business Day and the Financial Mail

The book is taking us back to the genesis of state capture...

Stephan Hofstatter, Journalist at Business Day and the Financial Mail

The book goes into the key events and the big reveal around state capture and around Transnet where billions of Rands where taken to offshore companies and moving into Eskom where consulting companies like Trillion and McKinsey were looking at earning R1.6 billion for giving advice.

Stephan Hofstatter, Journalist at Business Day and the Financial Mail

To hear the rest of the conversation with Stephan Hofstatter, listen below:


Recommended

by NEWSROOM AI
Read More
'Zuma is a master at obfuscation'

'Zuma is a master at obfuscation'

Professor Mark Swilling reacts to Zuma's recent statements surrounding state capture.

Lawyers for JZ say he will cooperate with state capture inquiry

Lawyers for JZ say he will cooperate with state capture inquiry

Jacob Zuma was invited to respond to specific allegations made against him in the hearings, reports legal journo Karyn Maughan.

Zondo rejects the Guptas application to cross-examine witnesses

Zondo rejects the Guptas application to cross-examine witnesses

Jacob Zuma and his son Duduzane have been granted an opportunity to cross-examine former deputy finance minister Mcebisi Jonas.

'This idea that the state capture is a myth, really? Where does  Zuma get off?'

'This idea that the state capture is a myth, really? Where does Zuma get off?'

Eusebius McKaiser says he doesn't believe that Jacob Zuma doesn't know what state capture is.

Like any other head of state Jacob Zuma is entitled to his full pension

Like any other head of state Jacob Zuma is entitled to his full pension

This is according to senior political analyst David Monyae. He says SA is governed by a rule of law and should be adhered to.

[LISTEN] Zuma says state capture is "a politically decorated expression"

[LISTEN] Zuma says state capture is "a politically decorated expression"

The former president was addressing students at the Walter Sisulu University of Technology in Mthatha on Wednesday.

Outa says leaked emails point to a close relationship between Guptas and Gigaba

Outa says leaked emails point to a close relationship between Guptas and Gigaba

The organisation conducted it's own investigation, tracing alleged connections between Gigaba and the family.

Popular articles
Hits from the bong (it’s legal!)… then off to work I go?

Hits from the bong (it’s legal!)… then off to work I go?

The consequences of consuming dagga at home and showing up at the office high. Bruce Whitfield interviews a labour lawyer.

Heinrich Volmink could've been a good mayor but Dan Plato gets the livery collar

Heinrich Volmink could've been a good mayor but Dan Plato gets the livery collar

Prof Jonathan Jansen sings Volmink's praises as Dan Plato is elected to lead the City of Cape Town taking over from De Lille.

'We can barely enforce tobacco legislation, how will we to deal with dagga?'

'We can barely enforce tobacco legislation, how will we to deal with dagga?'

International law enforcement expert and former Drug Unit Commander Lobo das Neves says ruling opens a different can of worms.

Key things to consider ahead of your retirement

Key things to consider ahead of your retirement

If you’re a baby boomer on the brink of retirement, here are a few things to consider ahead of time.

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.