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#GuptaLeaks Reveal How Guptas Paid for Zuma Family Home

Published October 24, 2023
1 years ago

The tangled web involving South Africa's former President Jacob Zuma and the controversial Gupta family seems to have tight knots, as fresh revelations from the widely publicized #GuptaLeaks indicate that the Guptas directly financed a lavish property for the Zuma family.



The scandal-plagued Gupta family had repeatedly denied financial links to the former president and his family. However, these fresh groundbreaking revelations, conveyed via a document allegedly authored by Bell Pottinger for Santosh Choubey, a Gupta lieutenant, counteract previous denials. The document implies millions were paid towards the opulent purchase, with suggestions of the money being proceeds of bribery originating from the UAE.


Contradictory evidence now shows that the Guptas and Duduzane Zuma paid up to R3.4-million towards the bond on the property cost, after an initial down payment of R1.15-million. This exorbitant R4.5-million total seems to trash prior denials about Gupta-Zuma financial relationships.


The money trail further suggests that Ngema-Zuma, and by consequence, the former president benefitted from corruption proceeds laundered from Dubai. Despite this, responses from the Presidencey, Ngema-Zuma, or the Guptas remain elusive.



Interestingly, the high-end residence located on the Waterkloof Ridge in Pretoria that overlooks the Union Buildings was acquired for R5.24-million in April 2010 and became Ngema-Zuma's dwelling. President Zuma is reported to have personally inspected the property before its acquisition and visited frequently.


Trust records are absent, making it difficult to determine if the president is a trustee alongside Ngema-Zuma or has rights to the trust assets. The presence of bond financing from Bank of Baroda, the Guptas’ preferred lender, further muddies the water, as does evidence that the Gupta-Zuma bond was serviced at a rate of R65,000 a month from inception.


These revelations expose a complex intertwining of entities and accounts suggesting that Zuma's statement made in Parliament about his son's autonomous business relationship with the Guptas was inaccurate. Instead, the younger Zuma seems to have served as a channel for the Gupta money to advantage the Zuma family.


The anticipated consequences for this rampant corruption are yet to be seen. Still, while clarity is scarce, these #GuptaLeaks have surely begun to unruffle the feathered nest that is the Zuma-Gupta relationship.


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