Trillian and Regiments Capital told SOEs what to do, Zondo Inquiry told
Former Trillian Capital and Regiments Capital employee, Mosilo Mothepu, on Thursday testified at the state capture commission that the two companies told state-owned entities (SOEs) what to do even though the SOEs were the clients.
JOHANNESBURG - Former Trillian Capital and Regiments Capital employee, Mosilo Mothepu, on Thursday said that Mohamed Bobat, who was appointed special advisor to former Finance Minister Des van Rooyen, was supposed to ensure that the companies got privileged insider information of tenders.
Mothepu testified at the state capture commission of inquiry that the two companies told state-owned entities (SOEs) what to do, even though the SOEs were their clients.
Other witnesses said that when Van Rooyen introduced his advisors to officials, he did not seem to know them well.
Mothepu said that while former Finance Minister Nhlanhla Nene was fired on 9 December 2015, her boss Eric Wood had told her in October that Nene would be fired because he did not support Regiments’ proposals to raise capital for SOEs.
She also knew a month before Nene was fired that Bobat would be the advisor of the new finance minister, who would be Van Rooyen.
“And he would give us insider knowledge so that when the tenders come they already have privileged information. That was the purpose of his appointment,” Mothepu said.
Mothepu said that Gupta associate Salim Essa was in charge of business development and ensured that the companies got SOE business, but he was also called to intervene if SOEs did not do as Regiments or Trillian wanted.
And after Van Rooyen’s term was short-lived, Essa paid Bobat a R1 million bonus even though he was no longer employed by Regiments.
WATCH: State capture commission proceedings