Lord Peter Hain puts foreign governments, global firms front and centre in South Africa’s State Capture

The Guptas wouldn’t have been able to capture South Africa without the help of a global network of consultants, lawyers, accountants and banks. At the Zondo Commission, British MP Lord Peter Hain named a host of global “enablers” that provided facilities to the Guptas and their companies, even after many red flags had shot up around them. Hain said Standard Chartered Bank, HSBC, Bank of Baroda, KPMG, Bain, SAP, McKinsey and law firm Hogan Lovells were among those who aided the Guptas, either purposefully or not. State Capture could not have happened without the financial network that helped them to create complex systems to disguise ownership of those stolen funds, he said. Some of them provided the international pipeline through which the Guptas could move their unlawful gains out of South Africa, so Hain said they must own up to the role they played. Read more at https://www.dailymaverick.co.za/article/2019-11-18-lord-peter-hain-puts-foreign-governments-global-companies-in-state-capture-spotlight/

Leave a Reply

Your email address will not be published. Required fields are marked *