Did anyone ask us? When connecting the dots, as Pravin Gordhan instructed, it seems the privatisation of SAA is yet another plunder scam by the ANC mafia. Harith, the new owner of SAA, was setup by the Mbeki and Ramaphosa faction of the ANC, possibly using funds belonging to the Government Employee’s Pension Fund (PIC). Just like when multi billionaire Oligarchs were created after the fall of the USSR, by funneling state public assets into private crony pockets. the privatization of SAA is just a massive ploy, designed to capture SAA for businessmen connected to Ramaphosa’s faction of the ANC! Was SAA deliberately bankrupted to enable this plunder of our assets?
The minister of Public Enterprises, Pravin Gordhan, announced on Friday 11 June that a consortium called Takatso will acquire SAA and will own 51% in it.
Takatso consists of Harith General Partners, a 100% black owned company, and Global Aviation. Takatso will allegedly invest R 3 Billion in SAA but the whole transaction is just another sleight of hand, and a trick played on us by the master scam plunderer and liar, the ANC’s Ramaphosa – who once told the world there is no such thing as farm murders.
The scam was already clear for all to see from the start , even without starting to really dig into the details, because Gordhan already admitted that the ANC government, and thus the taxpayer, will still have to fund SAA with an additional R 14 Billion over the next couple of years.
How can a private consortium claim to own the SAA with a majority stake of 51%, but they only have to put in R 3 billion of their own funds whilst the government, through the taxpayers, must put in a further R 14 billion, even though they are now minority shareholders ?
The Public Investment Commissioner (PIC) – which manages the Government Employee’s Pension Fund (GEPF) – still owns 46% in Harith, so who will provide the R 3 billion pledged by Harith? Will funds from the GEPF be used to provide the R 3 billion? So it is likely that whilst Harith will call the shots and on paper will own the SAA, the funding will still come from the taxpayers and the pensions of government workers.
It is very ironic that the Mpati commission of enquiry, set up by Cyril Ramaphosa to investigate state capture of the PlC, dedicated a whole chapter of it’s final report to the very Harith General Partners Group, and yet here we are with the Ramaphosa administration appointing one of the chief capturers of the PIC, as the new owners of the SAA.
Ramaphosa claimed corruption will stop, but it is clear that corruption never stopped and that corruption is now just given a new jacket by the Ramaphosa administration. In fact they are legalising corruption and state capture now under the banner of “radical transformation” and Black Economic Empowerment (BEE).
Pravin Gordhan told the media at the announcement of the Harith deal that it is very important that South Africa must ensure the survival of the SAA because it is the SAA that must maintain the image of the “transformed” South Africa. Of course Gordhan meant the image of a South Africa owned by black people, and run by black people as a totalitarian tyranny of the majority.
Gordhan, a communist, is known as a chief driver of the ANC’s anti – white “if you are white, you are out ” transformation policy and it was he who set up the Preferential Procurement Policy regulations in 2017, a regulatory BEE framework which stipulated only black companies could tender for state acquisition tenders.
Sakeliga took the matter to court and obtained a victory when the Supreme Court of Appeal ruled in their favour, by finding the regulations unconstitutional. The current minister of finance, Tito Mboweni, appealed the judgement of the SCA and is taking it to the Constitutional Court.
The notion that the SAA is now privately owned and that it was legally bought by black businessmen using their own capital is questionable and could be one of the bigger scams and fake news narratives that the ANC has ever come up with, eclipsing even Guptas. Pravin Gordhan, who came up with this fake con artistry dressed as a BEE transaction, used to ask the public to connect the dots, when the Guptas ran the show, because he and Ramaphosa were too cowardly to connect the dots themselves.
It is thus quite ironic that it was initiated by the Cyril Ramaphosa faction of the ANC, that portrays itself as against corruption and state capture. Clearly Ramaphosa and Gordhan only waited patiently for the public and civil society to put all the pressure on, and expose the Guptas, just so that their faction of the ANC could remove Zuma, so they can have “their turn to feast at the table” as the african saying goes.
So let us connect the dots to see who and what is Harith General Partners, how they came into existence and who funds them.
Harith captured the state as far back as 2005, before anyone even thought of using the term state capture. Harith Fund Managers was set up by a man called Tshepo Mahloele from inside the state sector (PIC), so that he can one day resign and own it in a private capacity – and massively profit from it. Mahloele worked for the Public Investment Commissioner (PIC), which is the state fund manager in charge of managing funds belonging to the Government Employee’s Pension Fund (GEPF).
In 2005, Mahloele (on behalf of the PIC) requested a mandate from the Government Employees Pension Fund (GEPF) to manage R1.65 billion in civil servant pension money, in investments in African infrastructure projects.
This was granted and the PIC set up Harith Fund Managers to manage a fund for these projects. Mahloele resigned from the PIC in 2006, but was then appointed as an external contractor to head the funds.
The commission found that Harith charged “significantly high fees” – equal to more than 8% per year. There was also a big poison pill: if the PIC terminated HFM, it had to pay 12 month’s management fee and 13% of the market value of all investments. Management later bought a big stake in Harith from the PIC.
The findings of the Mpati commission of enquiry were as follows:
“Harith’s conduct was driven by financial reward to its employees and management, and not by returns to the GEPF,” the commission found.
“It is the Commission’s view that there is no question that the approach taken provided easy access to PIC funds, influence and including an enhanced ability to secure additional investment, including from the Government Employee Pension Fund (GEPF).”
The commission recommended that the PIC and the GEPF should together appoint an independent investigator into Harith “as soon as possible”.
“The mandate must be to examine the entire PAIDF [the African infrastructure Fund] to determine that all monies due to both parties have been paid and properly accounted for; to determine whether any monies due to overcharging or any other malpractice should be recovered, and to provide the results of such investigation within six months to the Boards of both the GEPF and the PIC.”
However, the recommendation that Harith should be investigated was never implemented by Cyril Ramaphosa, and now we know why.
The commission also wanted Mahloele investigated for a potential breach of his fiduciary duties as a director in terms of the Companies Act. Mahloele chairs the Lebashe group, which bought Tiso Blackstar’s media assets (including the Business Day and Sunday Times) in 2019, so don’t expect any criticism from any newspaper owned by Lebashe.
The Lebashe group, Harith General Partners and Harith Fund managers are all closely linked and in fact are nothing more than a PIC backed cartel, both set up and funded by the ANC controlled PIC, and probably funding the ANC in a major way as well.
MAHLOELE AND OILGATE
In 2017, News24 reported that Mahloele sold a Pretoria mansion to ex Eskom CEO Brian Molefe, at a substantial discount. Mahloele said the sale was above board.
He was also linked to a controversial plan by state-owned company PetroSA to buy petrol stations across the country. Dubbing the saga ‘Oilgate’, the Mail & Guardian reported in 2013 that Harith replaced international bank HSBC as advisers on the deal, at substantial cost to PetroSA, and earning Harith a profit of over R300m.
When Harith was formed, the PIC was chaired by Jabu Moleketi, who was then the deputy finance minister, when Thabo Mbeki was the president of the ANC and the country.
Today Moleketi, too, is linked to Harith Fund Managers, Harith General Partners and the Lebashe Investment Group. Lebashe is an unlisted investments company and has done multiple deals with the PIC and currently owes it R15-billion according to investment officer Warren Wheatley.
Lebashe owns a wide range of investments and shares in SA companies like a 26,3% stake in EOH and a 7,2 % stake in Capitec, which made headlines during the commission of inquiry into the affairs of the Public Investment Corporation. The shares, controversially, were acquired from the state-owned asset manager, using a R2.25bn loan from the Government Employees Pension Fund (GEPF), whose assets are managed by the PIC.
Mahloele is chairperson of Lebashe while Moleketi is a non-executive director at the company. Moleketi is also chairman of Harith whilst Mahloele is the CEO.
So the picture is starting to emerge where state capture was a reality long before the Guptas. In fact it is not inconceivable that Mahloele did not act on his own when he set up Harith from inside the PIC , but that he was acting on instructions of the Mbeki and Ramaphosa faction of the ANC who had a long term plan.
Zuma did not invent state capture, he just franchised it out to the Guptas.
The ANC itself invented state capture, because it’s core policy called the National Democratic Revolution or NDR, makes provision for the deployment of their loyalist cadres into each and every institution of South Africa, including the courts, to promote ANC policy.
It is also important to note that Cyril Ramaphosa served as chairman of the ANC’s deployment committee from 2013 onwards, and that was at the very height of state capture. Ramaphosa fooled a lot of white people, white liberals like Max du Preez portrayed him as the saviour of South Africa, and claimed that he would end corruption and state capture.
Only problem with that notion is that it is not true at all. It is patently false to say there is a good ANC and a bad ANC. There is just one ANC who is deeply criminal in nature, because “by their deeds you shall know them.”
If you have not noticed, the ANC’s only deeds and true calling is looting, and to conduct a racial war against the white minority of South Africa, to cover that plundering, with the simple plan to take over everything ever built up by whites and make it their own. The left wing lie being that whites stole everything from them, so they are simply taking back what is theirs… and everybody has fallen for it, and is on board with it… because to object would make you a “racist”…
