Of scapegoats and black sheep

I wish all previously and currently financially disadvantaged South Africans (in other words the vast majority of us) could complete a financial course for dummies: Finance 101 - how to survive and understand the Zuma economy.

Jacob Zuma and the ANC in general are constantly accusing the capitalist whites, the media and the entire Western world of controlling the South African economy and plotting to overthrow the 'wondrous' ANC ruled government.

Some would say wishful thinking...

But, if you look at the ANC apparatchiks and who they choose to award their most lucrative contracts to, you can't believe the hypocrisy of these statements they so righteously and shamelessly spew. Most audiences soak it up as they are understandably eager to blame someone other than the ANC and their heroic freedom fighters for their never ending poverty and bleak futures.

Look at the Sassa debacle.

Net 1 UEPS Technologies, Inc. Group is a multinational international group that owns Net1 Applied Technologies SA that owns Cash Paymaster Services (CPS) plus a variety of other local financial services companies. Who awarded this international company the contract to pay out billions to grant beneficiaries every month?

The ANC government.

Why was one of the biggest contracts in SA awarded to a white multi national company? And it seems there are some dark forces doing its utmost to ensure the illegal contract with CPS is prolonged for a further 5 years. Another case in point is the ill fated e-toll system in Gauteng.

It came to light late last year that the Austrian firm who built and manages the e-tolls in Gauteng, Kapsch Trafficom, has since (in the 2015/2016 financial year) bought all the South African companies involved with the collection of toll fees. It even bought out its BEE partner Matemeku Investments.

Do the Austrians have inside info that we don't have?

I thought the E-tolls were running at a loss? Why on earth would they buy the whole caboodle?

A foreign company? It just does not make sense.

From a sound South African economic point of view it also boggles the mind.

All the eventual profits will end up overseas.

Other examples of billion-dollar contracts that have proven to be lucrative only to the dealmakers, are the arms deal and the fairly recent 'lofty' and extremely expensive train debacle that Prasa got us in.

Why?

Your guess is as good as mine, but chances are we're spot on.

The hunt for a black sheep or a scapegoat in the Sassa debacle will soon be on, because the real culprits will never take a fall.

I see house prices in rural Portugal are at an all-time low...

BY ILSE SCHOONRAAD, GEORGE HERALD EDITOR