Monopoly Capital :Nomvula Mokonyane, Water and Sanitation Minister, has said that her top priority in government is to grow black participation in the water industry.
At a media briefing on Friday 26th May, Mokonyane said that her biggest concern is the dominance of big businesses that have benefited from state contracts from her department for 20 years and do not present good value for the tax payer.
Mokonyane gave the example of Group Five, a white-owned business that is constructing the Hazelmere Dam. To date, the cost of construction has escalated by about 70%. Disgraceful.
She also alluded to a closed arrangement in which seven big white-owned companies had dominated the water sector.
We are pleased that Mokonyane is taking action to transform the economy and give black-owned businesses a chance.
What even is a ‘Gupta-linked company’?
When asked if any ‘Gupta-linked’ companies had benefited from state contracts from the department, the minister responded that she didn’t know what a Gupta-linked company was.
To be honest, we’re not sure either.
Water isn’t even a sector Oakbay Investments claims to operate in.