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Thread: Zuma's Nkandla costs 224% more than infrastructure projects...

  1. #1
    Banned DJ...'s Avatar
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    Default Zuma's Nkandla costs 224% more than infrastructure projects...

    Public Works is currently involved in hundreds of projects around the country, with their mandate being to spend on infrastructure and social development. With this in mind, their average allocation for each project will be somewhere between 0.1% and 0.2% of budget (this is a very high estimate in my opinion - they're probably spending less across more projects). Zuma's non-revenue-generating, unnecessary development that has nothing to do with infrastructure nor social development equates to a 0.32% allocation of the national public works budget. This means that they've spent up to 224% more on Zuma's compound than on their average spend on actual deliverable projects that meet their mandate.

    That is disgusting. Once again, for those who skim-read, Public Works have spent on average up to 224% more on Zuma's project than they do on average on all actual infrastructure and social development projects. Why? What could possibly necessitate diversion of funds from actual infrastructure projects to Zuma's home, and then warrant a 224% over-spend to boot? This also excludes the R1.5bn freeway being built through his town, that is purported to be funded by a private equity/venture capital company called Korong Capital Partners, however there is no information for this company; they've never been involved in any project ever before to the best of my research; they appear to have some dodgy dealings with an attorney in the US who is profiting form this deal; they are operating on a basis that makes no financial sense; they're simply funding an infrastructure programme with no return on investment even remotely possible.

    If we include the freeway project, which I'm quite sure is just a dodgy vehicle to protect Zuma from recourse, the figure jumps to 2172% more than their average national infrastructure spend. So instead of money going to the Gauteng Freeway Improvement Project, to mitigate the impact on the country, Public Works chose instead to over-spend on Zuma's home by up to 2000-odd percent. What is clear is that Public Works consider Zuma's house to be at least 224% more important than investment in infrastructure, which is their actual mandate.

    So we're stuck with a lower infrastructure budget; larger government backed bonds; excessive spending on unnecessary projects; higher inflation; increased consumer cost burden on top of our funding of Zuma's house; and many, many other tangible, detrimental effects to every single South African, so that Zuma can have a nuclear bunker and mansions that will hardly ever be occupied by actual foreign dignitaries...

  2. #2
    Fudzy
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    Just to clarify, we're talking about the village here, not just his house?

    EDIT: Sorry, hit Submit while standing a shopping queue without finishing the full post.

    Nice post, assuming you wrote it yourself, what are the sources of your information? Is there any undeniable truth in Zuma not really getting any backing from that Reddy chap? Or are there two seperate houses being discussed in the news?
    Last edited by Fudzy; 19-11-2012 at 01:13 PM.

  3. #3

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    Why are we all stressing on this issue, Mac maharaj is going to deny all liability, the story will be swept under the carpet. Every will continue to complain on the net and the majority of the country will continue to vote for the ANCancer and another day in sunny south africa

  4. #4

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    Quote Originally Posted by Fudzy View Post
    Just to clarify, we're talking about the village here, not just his house?
    Let's not kid ourselves as to where most of the money is actually going.
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    Banned DJ...'s Avatar
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    For those interested, Korong Capital Partners, who are funding the entire freeway project and then handing it over to government (apparently), at a cost to Korong of at least R1.5bn and absolutely no return on investment, have been a registered company since 1999, yet no information exists for them working on anything whatsoever - ever. They appear to be a one-man show with no real operations, who attempted to deregister as a CC in 2009 and then cancelled the deregistration in 2010. Shortly after that they offered to build the Nkandla freeway for free - a R1.5bn project.

    Their registered offices are as follows:

    UNIT 2 CHIANTI ESTATE
    39 LEEUWKOP ROAD
    SUNNINGHILL
    2196

    So this company who apparently have R1.5bn spare to flush down the toilet, are situated at unit 2, Chianti Estate in Sunninghill, a location that does not have business rights for its units, and where units go for around R500k. So how does this company operate from this 80sqm apartment and manage to rake in cash in such vast quantities that it can simply dish out R1.5bn to government, because it feels generous? And who lives there at unit 2 Chianti Estate? And why are they operating a business from these premises? I mean a company with this sort of spare cash lying about is certainly operational prior to the funding of the project. If not, and more plausible, who deposited the R1.5bn into Korong Capital Partners' account to fund this project? And what does the US attorney who is being paid to be the middle-man, have to do with this deal?
    Last edited by DJ...; 19-11-2012 at 01:18 PM.

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    Blackburn Fan Kornhole's Avatar
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    I think carte blanche should do some investigating...
    Quote Originally Posted by InSanity View Post
    Dont get why you guys are on Korns case i always share my wors with him ... right after he sucks my penis ... whats the problem

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    Fudzy
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    Quote Originally Posted by DJ... View Post
    are situated at unit 2, Chianti Estate in Sunninghill, a location that does not have business rights for its units, and where units go for around R500k. So how does this company operate from this 80sqm apartment and manage to rake in cash in such vast quantities that it can simply dish out R1.5bn to government, because it feels generous?
    Would be interesting to check the place out, if I lived closer I'd go have a look but it's a bit of a drive. Google Maps isn't much help either.

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    Fudzy
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    Quote Originally Posted by Korn1 View Post
    I think carte blanche should do some investigating...
    Agreed, DJ send your stuff through to them. Make sure you wear your MyBroadband shirt when they interview you

  9. #9

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    /Acts 224% more surprised.
    Mag jou mes chip en verbrysel / May thy knife chip and shatter

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    Quote Originally Posted by Fudzy View Post
    Nice post, assuming you wrote it yourself, what are the sources of your information?
    Yes, I researched and wrote it myself. My sources are the budget for Public Works which is public knowledge and the costs of the Nkandla project. Once you have this information, and knowing that each municipality is involved in tens, if not hundreds of infrastructure maintenance and development projects, it's easy to extrapolate figures. My estimates are very conservative in that I believe there are thousands of maintenance and development projects on the go country-wide, which will only push the 224% figure up much further...

    Quote Originally Posted by Fudzy View Post
    Is there any undeniable truth in Zuma not really getting any backing from that Reddy chap? Or are there two seperate houses being discussed in the news?
    The Reddy claim makes absolutely no difference and is not only irrelevant, but a diversionary tactic. Zuma himself stated that he personally bonded the property for the developments he's made to it. He also categorically stated under oath that this bond was with a financial institution. Reddy's involvement is irrelevant in terms of what Zuma lied to everyone about. And no, it is just the one property being discussed, although I'm sure there are other crude elements lurking in the corners of his other properties...

  11. #11
    Super Grandmaster blunomore's Avatar
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    Quote Originally Posted by Fudzy View Post
    Would be interesting to check the place out, if I lived closer I'd go have a look but it's a bit of a drive. Google Maps isn't much help either.
    There are pics of the estate on the net. Just google Chianti Lifestyle Estate, Sunninghill.
    Quote Originally Posted by jingaling View Post
    Blu, you're a genius.

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    Very interesting, I like what you did but I fear it means nothing and nothing will change; even if this headlined in every paper in SA with rock solid fact written in blood next to it. Interesting nonetheless
    The True master,only engages the worthy opponent.

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    Fudzy
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    Quote Originally Posted by blunomore View Post
    There are pics of the estate on the net. Just google Chianti Lifestyle Estate, Sunninghill.
    *spit* What it's residential block? I thought it was an office park

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    Super Grandmaster blunomore's Avatar
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    Quote Originally Posted by Fudzy View Post
    *spit* What it's residential block? I thought it was an office park
    That is exactly what DJ was querying - the company is run from someone's house, there are no business rights on the house, so that implies that it is not a huge operation.
    Quote Originally Posted by jingaling View Post
    Blu, you're a genius.

  15. #15

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    Quote Originally Posted by Fudzy View Post
    *spit* What it's residential block? I thought it was an office park
    Yep, it's some random townhouse.
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