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Evidence before commission chairperson Deputy Judge President Raymond Zondo revealed how Gupta company Regiments Capital was set up to benefit from the Cabinet reshuffle, which shook investor confidence and raised South Africa’s long-term debt by up to R5-billion as the rand and bond costs plummeted. Taking the stand, former Regiments principal Mosilo Mothepu was forthright as she spoke about how Regiments CEO Eric Wood casually told her over morning coffee, more than a month before the event, that Zuma was to fire Nene. At that stage she had “a good relationship” with Wood, who had woo...

The commission has reached an undertaking with McKinsey to pay back up to R650 million in fees it was paid by Transnet and the South African Airways (SAA).

Railway company Transnet has refuted claims by the commission of inquiry into state capture that it has reached a settlement with US management consulting firm McKinsey & Co.

Eric Wood knew Nhlanhla Nene would be replaced by a more 'pliable' minister 10 December 2020 - 14:22 Image: FREDDY MAVUNDA Former Regiments and Trillian executive Mosilo Mothepu knew in advance that Nhlanhla Nene would be fired as finance minister by then president Jacob Zuma and replaced with a more “pliable” minister. Mothepu said she was informed by her boss, financial advisory company Regiments director Eric Wood, in October 2015. Nene was fired by Zuma on December 9 2015 and replaced by Des Van Rooyen, who lasted a few days before being moved to another cabinet po...