DA says President’s campaign donation has Gupta link

The Democratic Alliance, South Africa’s main opposition party, said the fund that collected money for President Cyril Ramaphosa’s election campaign was administered by a law firm whose director appears to have had links to the politically connected Gupta family.

The trust account was administered by law firm Edelstein, Farber and Grobler and one of the directors of that firm was also a director of Trillian Capital Partners, the DA said in an emailed statement on Tuesday.

Ramaphosa said earlier this month that his campaign to become leader of the ruling African National Congress last year received a payment from a firm with links to his son and that he previously inadvertently gave incorrect information about it to parliament. The R500 000 ($36 000) payment was made on behalf of Bosasa, now called African Global Operations, Ramaphosa said. He said the donation would be returned.

“President Ramaphosa is now left with little choice but to heed my call and immediately appoint a full-scale independent inquiry – headed by a retired judge to be selected by the Chief Justice – to fully investigate the Bosasa scandal,” DA leader Mmusi Maimane said in the statement.

Financial-services firm Trillian is linked to the Gupta family through business associate Salim Essa, who was its principal shareholder until he sold out. McKinsey & Co. worked alongside Trillian when it was contracted by state-owned power utility Eskom and has apologised to South Africa about how that business was handled, saying it overcharged the utility and was slow to admit wrongdoing.

The Gupta family has been accused of using its political connections to win state contracts and influence government appointments. The Guptas have denied wrongdoing.

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Source: moneyweb.co.za