South Africa: Former Treasurer Puts Acsa and SAA Deep in the Game With Regiments Capital

analysis

Interest rate swapping on billion-rand loans, leaked tender documents, bank kickbacks and shell companies all come to light at the Zondo commission on Thursday, with Regiments Capital in a starring role.

There haven't been as many "I ask not to answer the question in order not to incriminate myself" responses before the Zondo commission as were heard on Thursday 26 November since former SAA chairperson Dudu Myeni took the stand.

Hostile Dudu Myeni refuses to answer questions on SAA and her trumped-up CV

The requests by witness Phetolo Ramosebudi to withhold answers took effect as evidence leader Matthew Chaskalson presented damning emails pointing to Ramosebudi leaking internal tender information to the Gupta-tied company Regiments Capital while he was treasurer at SAA, and receiving millions from Regiments as it made money through interest rate swapping on billion-rand loans while he was treasurer at the Airports Company SA (Acsa).

Evidence was also presented suggesting collusion between Regiments and Nedbank at Acsa's expense.

In contrast to his blanket requests to the commission chairperson, Deputy Chief Justice Raymond Zondo, to exercise his right to silence when it came to SAA or the payments he received from Regiments, Ramosebudi was comparatively forthcoming when...

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