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‘A Very Smart But Perverse Theft’: How the Guptas Stole South Africa, According to Prince Mashele
They arrived at the dawn of democracy, knocking on doors that would not open. For years, they tried and failed. Then they found their targetand South Africa paid the price.
Political analyst Prince Mashele, speaking on the Truth Report podcast, has offered a searing analysis of how the Gupta brothers facilitated state capture and stole billions from South Africa through what he calls “very smart but perverse” methods.
The Long Game
According to Mashele, the Gupta brothers arrived in South Africa around 1994, anticipating the political transition. They understood that new political leaders would emergeand that some would be driven by a hunger for power and wealth.
“They repeatedly knocked on the door during the presidencies of Nelson Mandela and Thabo Mbeki,” Mashele said.
They managed to get close to the presidency through ANC associates. But Mbeki, he argued, “was too smart to let them close to his inner circle.”
Everything changed in 2007, when Jacob Zuma defeated Mbeki for the ANC presidency.
“The Gupta family finally found a vulnerable target,” Mashele said. They gained access to the highest office by promising to enrich Zuma’s children and providing financial support.
The Sahara Trap
Mashele alleges that Sahara Computers, the Guptas’ high-profile business, was never a legitimate retail operation.
“Nobody went to a shop and bought Sahara computers,” he said. “Only government departments bought Sahara computers.”
He described it as a “tender trap”a vehicle designed not to serve consumers, but to access government contracts. Mashele even claims the Guptas tried to capture him personally by giving him a Sahara computer, an offer he never used.
When Zuma came to power, the brothers realised that computer tenders were small fry.
“They went to Eskom, Transnet, and other state-owned enterprises. That is where they received big tenders and began to loot on a massive scale.”
The looting continued unabated during most of the Zuma presidency. The brothers were even able to influence cabinet appointments.
The Collapse
The Gupta empire crumbled not because of police raids, but because of banks.
In 2016 and 2017, Absa, FNB, Nedbank, and Standard Bank closed Oakbay’s accounts to avoid reputational risk. Without banking services, the companies could not pay salaries or suppliers.
When Ajay and Atul Gupta fled South Africa for Dubai on a private jet, their sprawling, multi-billion-rand empire collapsed almost immediately.
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ANN7 was rebranded as Afro Worldview, then taken off air in 2018 after MultiChoice refused to renew its DStv contract.
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The New Age newspaper became The Afro Voice, then ceased publication due to lack of advertising revenue and government funding.
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Tegeta and its subsidiaries filed for business rescue in February 2018.
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Sahara Computers shut down. Its Midrand headquarters were abandoned. The brand vanished.
The Fugitives
After leaving South Africa, the brothers spent years as international fugitives, based primarily in Dubai.
In June 2022, Rajesh and Atul Gupta were arrested in Dubai following an Interpol Red Notice. But in a major blow to South African authorities, UAE courts refused to extradite them in 2023 on a technicality.
The Legacy
Mashele’s analysis frames the Gupta saga as a story of patience, predation, and penetration. They tried Mandela. They tried Mbeki. They failed. Then they found Zumaand South Africa bled.
The billions stolen from Eskom, Transnet, and other state enterprises are gone. The brothers remain free. And the question Mashele’s analysis raises is as uncomfortable as it is unavoidable: how many others are still knocking on doors, waiting for the next vulnerable target to open?
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