Two members of the Gupta family have been arrested in the United Arab Emirates, the biggest step yet in South Africa’s fight to bring the kingpins accused of orchestrating the looting of its state companies to account.
President Cyril Ramaphosa’s administration first asked the Emiratis to extradite members of the Gupta family in 2018, and Interpol placed the two brothers on its most-wanted list in February. Corruption scandals involving the Guptas and people linked to them are blamed for damaging indebted state power utility, Eskom Holdings SOC Ltd.
and rail and ports company Transnet SOC Ltd. McKinsey & Co. has paid back money to both companies after working on contracts with Gupta-linked companies. The US-based consultancy has denied intentional wrongdoing. In December 2015, the Guptas were accused of playing a part in Zuma sacking then-Finance Minister Nhlanhla Nene, and replacing him with little-known lawmaker Des Van Rooyen, a move the caused the rand to crash. Van Rooyen was removed four days later and replaced by Pravin Gordhan, who had formerly served in the post, after an outcry from business, the public and members of the ruling African National Congress.Now read:
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