Australian News on South Africa E-Tolls The deal between Sanral and Kapsch of Austria, the e-tolling operating company is not with the corporate entity, but with Kapsch Sweden. Kapsch Sweden used to be SAAB Aerospace, a 50% shareholder in a company called SANIP. British Aerospace held the other 50%. SANIP is alleged to be the payment vehicle used by SAAB and BAE to pay the alleged bribes of around R100 Million in the Arms Deal saga to ensure that the Gripen fighter was chosen. The names Hlongwane, Modise, ANC, Zuma, Shaik figure prominently in the list of alleged recipients. So why Kapsch Sweden, not the corporate entity? I leave it to your imagination. How much? According to the corporate structure used to implement e-tolling in SA, about 80c of each rand of profit can be repatriated to Austria via Sweden. Gauteng alone expects to generate about R350Million a month in toll fees. Assuming a very conservative 10% profit available to be repatriated, that means about R28Million a month to go overseas
Posted on: Thu, 17 Oct 2013 07:12:31 +0000
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