Big White owned firms exposed in the recent Paradise Papers Leaks

It’s More than a year now since the famous Panama Papers leak shook this world by exposing a number of Biggies around the world into “Financial Culprits. Now Paradise papers can be termed as another massive collection of secret financial data that has been leaked by the International Consortium of Investigative Journalists (ICIJ). It’s worth mentioning here that this financial data was initially obtained by German newspaper Suddeutsche Zeitung which includes all details about how big corporate and super-rich individuals moved money to and from 19 tax havens to evade taxes. It must be further noted that the list also includes many big firms of South Africa which are either White owned or got the WMC allies as their Major Shareholders.

SA Companies Leaks

The First name in the list is of Glencore, a company based in the low-tax jurisdiction of Switzerland involved majorly in the Mining business. As per the reports in Paradise papers, the world’s largest mining company made collective dividend payments to its seven directors, the largest shareholders, of $500-million during the past financial year. The Company is headed by Johannesburg-born Ivan Glasenberg, who owns the largest share of the company with 8.4% of the Chunk in his kitty and also received dividend payments of $173-million in 2012 and $182-million last year. Moreover, the company is already under scanner for allegations of tax evasion and pollution in Zambia, breaching international child labor law and dumping raw acid in a local river in the Democratic Republic of Congo (DRC). It has further been held accountable of human rights violations in the Philippines and Peru. Though the company has always denied the same calling these allegations as mere “Hoax”, the above facts still speaks louder than assumptions.

The Next in the list are Standard bank and Investec which are said to be amongst the top 4 White owned banks in South Africa. As per the leaked reports, these banks maintained offices in secrecy jurisdictions, from where account details were compromised. The List continues with next name as Shanduka ,a company in which deputy president Cyril Ramaphosa holds a stake along with a number of Glencore’s SA-born executives, including CEO Ivan Glasenberg. As per the Leaked reports, the Firm was said to be advising Standard Bank of SA on a US$70m facility for the purpose of refinancing Zambia Sugar Plc, a subsidiary of Illovo Sugar Limited which was further being used for Tax Abuse purpose in Zambia. The list further includes Lonmin, a firm which also got Cyril Ramaphosa as one of its Shareholders and if we go and turn the history pages for a while, we will get to remind ourselves about the Dirty Role played by Ramaphosa being the head of Lonmin during the “Marikana Massacre”.

Therefore we can conclude while Johann Rupert and its Puppet media would still keep mum on this Expose as the life of their own stooges will be at stake, the Public Protector and the Government Investigation agencies shall do everything possible to bring every culprit to their fate behind the bars as soon as possible to avoid further Disgrace to this Rainbow Nation.

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