home WMC Paid Media ‘Steinhoff Saga’ Vs ‘StateCapture’: An Epic Guide To White Media’s Biased Reporting

‘Steinhoff Saga’ Vs ‘StateCapture’: An Epic Guide To White Media’s Biased Reporting

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The last few days in South Africa have been marked by some of the biggest revelations in terms of corruption and biasness. First, there was the Steinhoff Saga that has destroyed our nation’s economy. The second has been the deafening silence maintained by the white political parties and their white media affiliates on the Steinhoff Saga.

This silence of the white media and white funded parties such as Democratic Alliance amounts to them consenting to defend Steinhoff despite stark evidence being available for the unprecedented wrongdoings. This strategic silence exposes their real characters who until recently were vocal and vociferous in lashing out at the Guptas on mere allegations of state capture without any evidence at all.  

This league of Democratic Alliance and their white media affiliates have been looking to cherry pick and implicate the Guptas as part of a false strategic propaganda.

Talk of the amount at stake in the state capture allegations against the Guptas that amount to R680 million and the corresponding numbers in the Steinhoff Saga that at present stand at R183 billions and the political conspiracy hatched by the white political parties stand exposed. It amounts to racial profiling of state capture by these honoured white politicians and scribes.

The Guptas have had to go through kangaroo court trials by paid white media platforms. The hollow allegations against them were made into headlines of tabloids by white scribes. The WMC lobby even went a step ahead to assist in this selective bashing of the family by hiring imperialist British parliamentarian Lord Peter Hain to lend a global outlook to the sham.

Propaganda news against Guptas 1:

Guptas 1

Propaganda news against Guptas 2:

Guptas 2

Propaganda news against Guptas 3:

Guptas 3

Propaganda news against Guptas 4:

Guptas 4

 

The prejudiced vilifying of the Guptas is only a reflection of the repeated false propaganda. The Guptas being the strategic target can be proven by the sudden softness in the response of these above mentioned elements for the biggest event of state capture – Steinhoff Saga. Their liberal stance could not have been more open and naked. Here are a few stances:

Liberal Reporting 1:

Steinhoff 1

Liberal Reporting 2:

Steinhoff 2

Liberal Reporting 3:

Steinhoff 3

Liberal Reporting 4:

Steinhoff 4

Liberal Reporting 5:

Steinhoff 5

 

What explains the hypocrisy of DA leaders like MP Natasha, Mmusi Maimane, WMC stooge like Pravin Gordhan and the paid white media for systematically destroying a socially responsible corporation such as Oakbay Investments and siding with white corporate executives like Christo Wiese of Steinhoff International? Here are a few perspectives for the probable causes:

Political and Media Trial Turning Blind Eye to Evidence

The noises made by DA leaders MP Natasha and Malusi Maimane were loud enough to deafen people of South Africa to the question of evidence. Recall the false protest march of DA leaders sponsored by Johann Rupert in front of the residential property of the Guptas. They had no evidence against the Guptas.

On the other hand, free market capitalism supporting NGOs ‘OUTA’, ‘Save SA’ and ‘Helen Suzman Foundation’ have not offered a single media statement to empathize with the clueless investors that have lost money and the black natives that had their lifetime savings parked in PIC looted. They need to explain why Steinhoff shares should not be delisted and trading not be suspended on the JSE after destroying shareholder value?

Value Creation and Social Responsibility in Spotlight

The fundamental purpose of a business is to create value for society. This includes shareholder value maximization and sensitivity to the local economic landscape. The Guptas protected shareholder value and fought a pitched courtroom battle to the very end to protect the jobs of 7,500 black natives that were gainfully employed with them.

Contrast this with Steinhoff that has robbed shareholders in daylight and have now put the jobs of 130,000 employees in jeopardy. Which of the two amounts to state capture?

Balance Sheets Prove Who Are Real State Capturers

The Oakbay Investments have a clean balance sheet that has no discrepancy at all. Guptas have honoured all mandatory and voluntary disclosure protocol. There is no evidence of corruption.

The Steinhoff balance sheet is riddled with mysteries of shell companies, tax avoidance, tax evasion and mismatch between cash flows and EBITDA. Steinhoff’s balance sheet is the evidence of their crimes.

Contrasting the Role of Auditors of Guptas and Steinhoff

There has been no single proven instance when the Gupta family did influence its external auditor KPMG. Yet KPMG was framed, silently pressurized to toe the state capture allegations and then forced out of business in South Africa.

In contrast, Deloitte, the auditors of Steinhoff had consented to the debt financed acquisitions and shell companies shown in the Steinhoff balance sheets that were active for last 2-3 years. No action has been taken against Steinhoff’s auditor Deloitte.

Accounts Shut against Guptas; Credit Line Extension for Steinhoff

Recall that the court directed all banks to shut down the accounts of the Guptas in one night. This effectively crippled the fortunes of thousands of black natives that were working for Oakbay Investments and were dependent on them.

For Steinhoff, the biasness is at its peak as the white owned banks have offered a credit line extension, only to allow the Steinhoff board and Christo Wiese to buy time to hide evidences of vast illicit dealings and adjust their positions before investigations commence, if only for namesake!

One does not have to falsely claim the excavation of troves of fake email threads to deal with the state capture agenda. The evidences are there for everyone to know and understand. Competition in business is always justified but does not amount to state capture. Robbing investors of wealth, government of taxes and government employees of pension funds and then buying political, financial and media support is real state capture.

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