is a South African
businessman from the Berea
, who rose to prominence due to his close association with South African President Jacob Zuma
during his time as Deputy President. On 2 June 2005, he was found guilty of corruption
, which also led to the dismissal of Zuma two weeks later from his position as Deputy President.
A South African of Indian origin
, Shaik studied electrical engineering
at the M.L. Sultan Technikon
, but was caught cheating in a High Voltage Engineering T5 exam on 28 May 1990 and was barred for 12 months. He claimed to have obtained a master's degree
, but no record of this was found at the Technikon; he later admitted he did not earn the qualification.
He had a long-standing friendship with Jacob Zuma
, who needed assistance with his finances after returning from political exile
in 1990. Zuma had been elected Chairperson of the African National Congress
, and Shaik assisted him financially, mostly in the form of interest-free loans
with no date of repayment.
On 27 February 1995, Shabir Shaik established a company known as Nkobi Holdings, using the family name of the late ANC Treasurer Thomas Nkobi
, without consent and approval of the Nkobi family.
Nkobi Holding was initially wholly owned by Shaik. The shareholding went through various permutations subsequently, however Shaik was at all relevant times a director of, and exercised effective control over, all the corporate entities within the Nkobi... Read More