Zuma nearly spent all state budget on nuclear deal - Sikonathi Mantshantsha

Deputy Editor at Financial Mail Sikonathi Mantshantsha said if the nuclear deal between former president Jacob Zuma and the Russian government went through, it was going to cost the South African government it's whole annual budget.

Finance Minister Nhlanhla Nene has told the State Capture Commission that then-President Jacob Zuma put pressure on him to conclude the nuclear deal.

He says Zuma was so determined to proceed with the nuclear build programme that he showed disregard and no appreciation for the financial implications for the country.

Read: We don't need nuclear and we can't afford it - energy expert

In real terms, had that transaction taken place we would be paying the value of that deal today is R1.5 trillion

Sikonathi Mantshantsha, deputy editor at Financial Mail

In context, the government's budget for this current financial year is R1.4 trillion and on that, we are paying interest of R183 billion a year.

Sikonathi Mantshantsha, deputy editor at Financial Mail

Where were we going to get that money, of course, Jacob Zuma doesn't know anything about numbers until they go into his pocket.

Sikonathi Mantshantsha, deputy editor at Financial Mail

To hear the rest of the conversation, listen below:


This article first appeared on CapeTalk : Zuma nearly spent all state budget on nuclear deal - Sikonathi Mantshantsha


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