[imagesource: Flickr / GovernmentZA]

Decuplets.

In a single word, you can destroy the credibility of Iqbal Survé and the media outlets he leads.

Remarkably, Gosiame Thamara Sithole’s 10 children appear to have vanished into thin air. If you’re drinking Iqbal’s Kool-Aid, there’s a huge government conspiracy involving traffickers and shady doctors.

The important thing to remember is that Survé has been meddling with the electoral independence of his media outlets for years. He’s also been called out for manipulating the stock price of Ayo Technology Solutions, of which he is indirectly the biggest shareholder.

There’s more on all of that here.

He’ll do anything to discredit those who seek to hold him accountable, and indirectly, that’s President Cyril Ramaphosa due to his clean governance and anti-corruption rallying cries.

Enter IOL and an EXCLUSIVE from its investigation team, the Falcons, regarding Ramaphosa’s stolen Phala Phala millions:

…information from sources with intimate knowledge of the entire saga revealed that more than $100m was hidden.

Our probe found that about $140m (roughly R2 billion according to 2020 exchange rates) was allegedly moved through Waterkloof Air Force Base to Phala Phala where it was kept for more than a month before the theft in February…

After the Phala Phala scandal broke Ramaphosa allegedly roped in two businessmen to help him launder the money through dubious property deals, who the Falcons will only identify as Zahir and Karl. Sources, who cannot be named, revealed that about $20m was moved to Zahir and $10m was moved to Karl.

$20 million was said to come from Saudi Arabia, $10m from Qatar, $40m from Egypt, and an estimated $10m from Equatorial Guinea.

Here’s what we do know.

Ramaphosa has serious questions to answer and calls for him to step down don’t just come from pro-Zuma RET looters, although they tend to be the loudest.

IOL, at this point, has zero credibility when it comes to these matters.

Zapiro knows and we all know how this works:

Twitter is full of half-truths and outright lies.

However, Survé is clearly feeling the heat and he has a vested interest in Ramaphosa’s downfall.

Iqbal Surve owes BILLIONS to the PIC.He is refusing to pay this money back. It took longer than expected but the authorities are closing in on him. For him to avoid this he needs Ramaphosa out and the criminal RET in charge. Hence the fake stories. #Tembisa10 #OperationHlanza

— Goolam (@goolammv) December 4, 2022

Last week, Bloomberg reported on the saga:

…Ayo Technology Solutions Ltd. is in a court battle over the billions it took from Africa’s largest fund manager, banks are trying to close its accounts and it just reported a full-year net loss that widened 4% to 270 million rand ($15.9 million)…

Surve and his companies stand to receive a healthy dividend from an ailing company, which is being sued by South Africa’s Public Investment Corp. and Government Employees Pension Fund for 4.3 billion rand, plus interest. There are another four court cases over and above the PIC and GEPF’s claim, according to Ayo…

Ayo’s total market value is now 1 billion rand, with its share price having plunged 93% since it listed. The stock took a battering in 2018 when President Cyril Ramaphosa ordered a probe into whether PIC officials, including its former Chief Executive Officer Dan Matjila, followed procedure when it backed Ayo’s IPO.

That probe found that the PIC had “regularly flouted procedures” when making investments with government workers’ pension money.

So, when you see IOL reporting on Ramaphosa, remember those decuplets and remember Survé and the PIC and Ayo Technology Solutions.

The president must answer for what went on at Phala Phala. He doesn’t have to answer for anything Survé can cook up.

[sources:iol&bloomberg]