Suspect South African Deals Cost $3.5 Billion, Study Finds
- Contracts were awarded to family linked to ex-President Zuma
- Shadow World tracked paper trail via leaked bank statements
Jacob Zuma in court in Pietermaritzburg, South Africa on May 17.
Photographer: Rogan Warn/AFP/Getty Images
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South Africa’s government spent 49 billion rand ($3.5 billion) on contracts with entities linked to members of the Gupta family, who allegedly exploited their close ties to former President Jacob Zuma to win suspect deals, a study has found.
The price tag was calculated by Shadow World Investigations, Paul Holden, a researcher at the London-based non-profit organization, told a judicial inquiry into state corruption on Monday. He described how money had flowed from state entities to firms linked to the Guptas, information that was gleaned from leaked banked statements.