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:


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