Gupta family has always been treated as a “Soft and Main Target” by the WMC owned media houses since their inception on South African Financial Map. In fact, Gupta’s every step on the Financial grounds has been often molded and marketed as a “Curse“ to the economy by the white media to fulfill their own fake propaganda. Even Oakbay’s BEE-inspired decision to sell its media arms ANN7 & TNA to Jimmy Manyi at R450 million through vendor financing has been put on board out of Proportion by WMC, and this is just to attract negative reactions.
It’s worth mentioning here that “Vendor Financing” is a “form of lending”, in which a company lends money to be used by the borrower to buy the vendor’s products or property. It is usually in the form of deferred loans form or shares subscribed by the vendor. The vendor do, often, takes shares of the borrowing company. It should also be noted that at the same time, this concept has been used by many SA organizations to sell or buy firms; still the White media is making gaga over the use of the same concept.
Moreover, the same media seems like ignoring the fact that this concept has already been used by many White owned companies in the past to launder money within the country. None of media ever uttered a word in public nor they do bother to react. One of the actual examples was a case of vendor financing held in 2011, where a company named ‘Shanduka’ received a sum of R2.26 billion in order to acquire 50.03% stake in Incwala Resources, the designated BEE vehicle of Lonmin Plc. It must be noted here that ‘Shanduka” was owned by WMCs most beloved and current deputy President Cyril Ramaphosa, and it has a 26% stakeholder in white owned ‘Lonplats’, the SA subsidiary of Lonmin Plc . Shanduka made an equity contribution of R197.5 million to Lonmin in order to acquire this stake and the idea behind was to repay the loan with the dividends received but till now, No loan has been repaid by the firm.
White Media showed their biased nature, when the deal was done by their puppet “Cyril Ramaphosa” through the same concept of payment and sudden they start reacting like a cry baby when Guptas decided to vendor finance Jimmy Manyi. Een it was not enough for them, they still started smelling something “Fishy” cooking inside Gupta’s Kitchen. Big names in the Journalist Fraternity like Ferial Haffajee, Adrian Basson, Peter Bruce left “no holds barred” in criticizing this move on public platforms and social media.
The White media was not stopped here when they saw that everything were our of their control, they started targeting the Guptas along with Jimmy Manyi with all types of allegations from “State Capture” to “Corrupt Business practices” without having any solid proof about the same. Moreover, It’s worth mentioning here that till date not even a single case has been registered against the Guptas and the whole country has now become aware of the true face of WMC and its media allies.
It’s quite conclusive now that the White media would keep doing what they always do. The country and the people are quite aware now of their deeds and this certainly can be taken as a positive towards the Radical economic transformation, we all are looking forward to.
Initially, this story was covered by Wmc Scams : White Media’s Foolery; Avoids Reporting R2.26 Billion Vendor Financing Received by Cyril Ramaphosa