Daughter of South Africa's ex-president Zuma charged over 2021 riots
I don’t have a personal offshore account, insists Khulubuse Zuma
7:32 CAT | 04 Apr 2016
AFP (File photo) / President Jacob Zuma's newphew, Khulubuse Zuma.
President Jacob Zuma’s nephew, Khulubuse Zuma, has confirmed that he does not have a personal offshore account but he is associated with a company that is registered in the British Virgin Islands.
The Panama Papers, which have been leaked to the media, contain more than 11 million records from a Panama-based law firm that show how leaders, businessmen and celebrities have been hiding their money in offshore tax shelters like the British Virgin Islands or the Seychelles.
Zuma is linked to Caprikat Limited, which scored a R100 billion oil deal in the DRC.
His spokesperson, Vuyo Mkhize, says it’s nothing new that the businessman signed an agreement on behalf of the Caprikat Limited in the British Virgin Islands.
“We’ve known from 2010 that Khulubuse signed on behalf of a company registered in the British Virgin Islands, that is all that is detailed. So I honestly fail to understand what the excitement is about.”
At the same time, the South African Revenue Service says it has noted the level of tax avoidance across the world, including some South Africans, and it will analyse the information to act in a responsible manner.
At least two people linked to the Fidentia scam paid the Panama-based law firm to create offshore companies.
About R1.2 billion was misappropriated affecting thousands of beneficiaries.
Source: EWN
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