Albereth
Honorary Master
Oh my gosh! A single person? That's just the most topical example at the moment.
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Question of the Day: Worst movie or series plot hole?
Nkandla Freeway Corruption Potentially Exposed...
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Oh my gosh! A single person? That's just the most topical example at the moment.
Sinbad
Honorary Master
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Follow our dear leadership's example
The presidency doesn't respect the law so why the **** should anyone else?
It's not about laws. This is about doing the morally right thing. Legally speaking, I can identify the individual as the information is in the public domain. Legally, I can speculate about this relationship. Is there anything else you'd like to bitch about?
It's not about laws. This is about doing the morally right thing. Legally speaking, I can identify the individual as the information is in the public domain. Legally, I can speculate about this relationship. Is there anything else you'd like to bitch about?
P
Picard
Guest
TL;DR
So Zuma is getting away Scot free again?
So Zuma is getting away Scot free again?
purpleonlineadmin
Senior Member
Following. Got to give this a nice thorough read. Nice research
Bizkit87
Executive Member
I think we should rename it to getting off 'Zuma free' again
blunomore
Honorary Master
1. I wonder why, if a lot of people send the info in this thread through to the media, they did not pick up on it? I have not seen it published anywhere yet. I know they have to check/verify the facts and do their own research, but it has been 2 months already and still nothing.
2. My husband (who has a background in politics) read through the claims and immediately deduced that it must have emanated from a certain minister, who shall not be named, who did not make it during the Mangaung elections
2. My husband (who has a background in politics) read through the claims and immediately deduced that it must have emanated from a certain minister, who shall not be named, who did not make it during the Mangaung elections
F
Fudzy
Guest
It's sad really. Perhaps the Staff Writer of MyBroadband should do something that other news sites can syndicate?
1. I wonder why, if a lot of people send the info in this thread through to the media, they did not pick up on it? I have not seen it published anywhere yet. I know they have to check/verify the facts and do their own research, but it has been 2 months already and still nothing.
2. My husband (who has a background in politics) read through the claims and immediately deduced that it must have emanated from a certain minister, who shall not be named, who did not make it during the Mangaung elections
Because the individual concerned denied any relationship whatsoever and claims that the links are merely coincidental. I didn't follow up on it thereafter. It is very likely that journalists did follow up and found the links to be coincidental, or they're still digging. I do not know.
The HDA representative made a personal appeal to me not to continue down this path as they were being harassed by media representatives and they had no relationship whatsoever with Nkandla, so I removed their personal details from here. I really cannot dig any further and for all we know, the ties are purely coincidental, on the basis that the HDA representative merely rented an apartment to the individual concerned here.
That would explain the connection. However I cannot be certain of the veracity of these claims...
blunomore
Honorary Master
It would depend on whether you believe in coincidence or not
For the record, the claims as set out in the OP came to me again via an e-mail, so it clearly has been doing the rounds. In the e-mail version, the names of those allegedly involved are all intact.
It would depend on whether you believe in coincidence or not
For the record, the claims as set out in the OP came to me again via an e-mail, so it clearly has been doing the rounds. In the e-mail version, the names of those allegedly involved are all intact.
The email was not sent by me so I can't vouch for the veracity of the contents. Best not to post it here though as I've gone to the trouble of removing names. Look, I'm not one to look for coincidence in things too, but the HDA representative came across as sincere. I might have been duped by good acting and appeals to emotion, however I'm not prepared to vilify the individual without proof, and there is no way that I can source this evidence, if it even exists.
The claims made in the OP have no supporting evidence while the refutation by parties concerned claimed this to be coincidence on the basis of an apartment rented by Moeti Mpuru which happens to be owned by the HDA representative, for which it is claimed that no personal relationship exists.
I don't have the time nor resources to dig further in to this, and I rightfully don't want to draw conclusions on thin evidence, or what may amount to coincidence...
Here is the HDA's official response:
The fact that the HDA was not formed yet is in my opinion of little impact, as appointments can be made based on existing relationships. However the HDA officially deny any involvement, as does the individual concerned. We can only take their word for it as no other evidence of wrong-doing has been uncovered subsequent to this.
I'm of the opinion that this may very well be pure coincidence and a case of trying to make the square block fit in the round hole...
The fact that the HDA was not formed yet is in my opinion of little impact, as appointments can be made based on existing relationships. However the HDA officially deny any involvement, as does the individual concerned. We can only take their word for it as no other evidence of wrong-doing has been uncovered subsequent to this.
I'm of the opinion that this may very well be pure coincidence and a case of trying to make the square block fit in the round hole...
blunomore
Honorary Master
I understand what you are saying about the possible coincidence of the relationship between Mpuru and the HDA rep and any lack of proof of the contrary.
However, even if you leave that aside, there is still the issue of how Korong managed to secure R1.5bn in funding for a project that will see absolutely no return on investment. As you said, a straight R1.5bn loss to whoever funds this project. And the veil of secrecy surrounding the donor, if there is one.
blunomore
Honorary Master
Please note that for the time being, I am accepting the HDA's stance on this and do not suspect a malicious relationship to exist.
BUT:
It is interesting to note that subsequent to this blog, Korong Capital Partners have filed for deregistration from CIPC (or CIPC initiated the deregistration by their own accord on the basis that the company is no longer in business).
So one wonders what prompted this? And surely this means that the the tender will now have to be resubmitted? They will have to, surely, start the tender process over again?
Another company called Korong Capital Partners One are in business though. They appear to be linked (based on the name), but again, no information for this company appears to exist in the public domain, apart from them being located at:
4 CARSE O'GOWRIE ROAD
1ST FLOOR BROLL PLACE
PARKTOWN
2193
This is a fairly large office building, but the only other company I can find who operate from the 1st floor are Xantium IT Services. They are more than likely completely unrelated to this, however they do not appear to have a website that I can easily find. They claim on Linkedin to employ between 200 and 500 employees, so one would assume that they'd take up the entire 1st floor. Maybe they can tell us more about Korong Capital Partners One and their director(s)?
What's clear is that should the deregistration of Korong take place, Public Works will have to put the project out to tender again. One wonders then what will happen to the R1.5bn secured for funding? What happened to the R1m secured for Korong through the US based lawyer? Where did this money come from? Who are Korong Capital Partners One and what is their affiliation with Korong Capital Partners? Will the freeway project even go ahead? And if so, through which company?
Journalists have more work to do now, considering the new evidence. Someone needs to find out from them who they will now be partnering with for the project? Additionally, will the project now be funded externally and given to Public Works as a donation still, as Korong were supposedly doing? Or will we as taxpayers now be forking out for it?
EDIT: Korong Investments are directly linked to Korong Capital Partners One. Same business address. They too are in deregistration (AR Final deregistration). Their director is/was Ipeleng Nonkululeko Mkhari. I have no idea how she is related to this, or if Korong Capital Partners One is even associated with Korong Capital Partners, but I have a strong suspicion that the two companies are related...
BUT:
It is interesting to note that subsequent to this blog, Korong Capital Partners have filed for deregistration from CIPC (or CIPC initiated the deregistration by their own accord on the basis that the company is no longer in business).
So one wonders what prompted this?
And surely this means that the the tender will now have to be resubmitted? They will have to, surely, start the tender process over again?Another company called Korong Capital Partners One are in business though. They appear to be linked (based on the name), but again, no information for this company appears to exist in the public domain, apart from them being located at:
4 CARSE O'GOWRIE ROAD
1ST FLOOR BROLL PLACE
PARKTOWN
2193
This is a fairly large office building, but the only other company I can find who operate from the 1st floor are Xantium IT Services. They are more than likely completely unrelated to this, however they do not appear to have a website that I can easily find. They claim on Linkedin to employ between 200 and 500 employees, so one would assume that they'd take up the entire 1st floor. Maybe they can tell us more about Korong Capital Partners One and their director(s)?
What's clear is that should the deregistration of Korong take place, Public Works will have to put the project out to tender again. One wonders then what will happen to the R1.5bn secured for funding? What happened to the R1m secured for Korong through the US based lawyer? Where did this money come from? Who are Korong Capital Partners One and what is their affiliation with Korong Capital Partners? Will the freeway project even go ahead? And if so, through which company?
Journalists have more work to do now, considering the new evidence. Someone needs to find out from them who they will now be partnering with for the project? Additionally, will the project now be funded externally and given to Public Works as a donation still, as Korong were supposedly doing? Or will we as taxpayers now be forking out for it?
EDIT: Korong Investments are directly linked to Korong Capital Partners One. Same business address. They too are in deregistration (AR Final deregistration). Their director is/was Ipeleng Nonkululeko Mkhari. I have no idea how she is related to this, or if Korong Capital Partners One is even associated with Korong Capital Partners, but I have a strong suspicion that the two companies are related...
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Plenty of new connections to various local business-people if there exists a relationship between Korong Capital Partners and Korong Capital Partners One. Not going to post them all as there are too many to go over now, but needless to say the links carry to even the ex chairman of a top financial institution in SA.
Impossible to draw conclusions from these though...
Impossible to draw conclusions from these though...
blunomore
Honorary Master
I can maybe believe one coincidence, but after that it becomes downright dodgy.
What is clear though is if Korong Capital Partners One are linked to Korong Capital Partners, then we finally have some decent info on who the people behind the scenes are, in addition to Moeti Mpuru. One would need to do some serious investigative reporting to identify possible links to other individuals.
It is important to note that Ipeleng Nonkululeko Mkhari is no longer a director of Korong Investments, nor Korong Capital Partners One.
She is however a director of Delta Fund, who late last year issued a private placement to raise R1bn worth of capital. Based on the private placement document, this appears to be 100% above board. Delta Fund are a property investment company whose success comes on the back of the Motseng group of companies - companies that Ipeleng Nonkululeko Mkhari co-founded. Motseng and Delta make their money through securing, selling and managing property for government.
Again, this might mean absolutely nothing at the end of the day, but it is interesting nonetheless, if nothing but for the history of Delta Fund and their recent private placement which I find personally interesting at least...
It is important to note that Ipeleng Nonkululeko Mkhari is no longer a director of Korong Investments, nor Korong Capital Partners One.
She is however a director of Delta Fund, who late last year issued a private placement to raise R1bn worth of capital. Based on the private placement document, this appears to be 100% above board. Delta Fund are a property investment company whose success comes on the back of the Motseng group of companies - companies that Ipeleng Nonkululeko Mkhari co-founded. Motseng and Delta make their money through securing, selling and managing property for government.
Again, this might mean absolutely nothing at the end of the day, but it is interesting nonetheless, if nothing but for the history of Delta Fund and their recent private placement which I find personally interesting at least...
Only if there exists a relationship between Korong Capital Partners and Korong Capital Partners One, both registered at different dates.
What is really intriguing here is that Korong Capital Partners is in the process of deregistration after the questions posed in this thread. Public Works will have to put the road out to tender again if Korong shut up shop. It will be very interesting to find out who gets the new tender and how that process is followed, as there will be considerable scrutiny on the deal now...