Dennis Minott | Billionairing up the Jamaican state, Gupta/Adani style

In a world where billionairing is no longer just a measure of wealth but a verb for state capture, Jamaica finds itself at a crossroads. As we watch our public institutions and resources being quietly released to the highest bidder, it’s hard to ignore the eerily familiar echoes of the Gupta or Adani scandals.

For those not closely following the scandals, the Gupta brothers’ close ties to former South African President Jacob Zuma, alongside Indian billionaire Gautam Adani’s relationship with current Prime Minister Narendra Modi, exemplify a troubling trend where state institutions are manipulated for personal gain, supported by powerful political figures. This dynamic has led to a systematic exploitation of public resources, characterised by an allegedly well-orchestrated series of bribes, favouritism, and theft.

The Gupta brothers allegedly leveraged their connections to secure lucrative government contracts and influence key appointments within the South African government, effectively turning state machinery into instruments for their business interests. This manipulation not only enriched a select few but also resulted in significant losses for the South African state, as billions were billionaired from public wealth into private hands. Ordinary citizens bore the brunt of this corruption, facing the dire consequences of mismanagement and the erosion of trust in public institutions.

As highlighted by investigations such as the Zondo Commission, which delved into the phenomenon of ‘state capture’, the repercussions of these actions have been profound. The intertwining of political power and business interests has undermined governance in South Africa, leaving a legacy of weakened institutions and diminished public trust.

VARIATION OF SAME PLAY

Here in Jamaica, we might be witnessing a variation of the same play, albeit with local billionaires billionairing the state in their own style. Just as the Gupta brothers weren’t content with their private fortunes, they sought to control state assets, influence policy, and manipulate the economic system for their own benefit. Similarly, certain factions in Jamaica have turned the political landscape into a marketplace where policies are shaped not by the public good but by the highest bidders — those who can billionaire the system to their advantage.

From energy deals or delusional MOUs that bypass the need for transparency, to public-private partnerships that look more like private giveaways, the pattern is becoming clear. The recent debates over small modular reactors (SMRs) are a case in point. Proponents of these energy solutions have been quick to overlook the glaring risks and the absence of local capacity, favouring foreign investment that will billionaire the country’s energy sector for a select few. The rhetoric is all about “progress”, but the real story is allegedly one of cosy backroom deals, where the public’s interest is treated as an afterthought.

It’s not just the energy sector that’s feeling the pinch. Education, healthcare, and infrastructure projects have all been subject to similar forms of billionairing. We see the same cycle repeating itself: a few well-connected individuals allegedly funnelling state resources into their pockets while the rest of the population bears the burden of rising inequality and diminished services. Policies are shaped by who can offer the largest ‘campaign contribution’ or the most favourable deal, leaving the Jamaican people to pick up the pieces of what is left of our country. Watch: https://www.youtube.com/watch?v=zqdPFTGxvPA

But, perhaps the most insidious effect of this billionairing is the erosion of public trust. Much like in Mr Modi’s India and Mr Zuma’s SA, where the Gupta/Adani affairs undermined citizens’ faith in their government’s ability to protect national interests, Jamaicans are increasingly disillusioned and angered with their leaders. When the public sees that resources meant for education, food production, healthcare, and social welfare are instead being siphoned off into the pockets of the wealthy, apathy takes hold. The result? A nation divided, a people disengaged, and a state that no longer serves its citizens, but instead serves the interests of the few.

BECOME A COMMODITY

We must ask ourselves: when did we allow the state to be billionaired like this? When did public trust become a commodity that could be bought and sold? The problem isn’t just about corrupt politicians and businessmen — it’s about a systemic failure that allows this kind of state capture to flourish.

Jamaica’s leaders need to remember that power is not a blank cheque for personal gain. The public good should not be sacrificed on the altar of profit. It’s time to put an end to the billionairing of our state before the damage becomes irreversible. Just as the Gupta/Adani scandals became a symbol of everything that went wrong with South African or Indian democracy, we cannot afford to let Jamaica fall into the same trap. Southern Africa and Southern Asia still suffer the ravages of these smooth and always ‘understanding’ billionairing hombres. Ask that self-described ‘mixed African’ chap.

Pause and learn that: Such a ‘new’ world will be run in the backroom with ‘backward-kicks’, ours will be run by those we can’t always see with ‘brilliant-tricks’.

Dennis Minott, PhD, is the CEO of A-QuEST-FAIR. He is a multilingual green resources specialist, a research physicist, and a modest mathematician who worked in the oil and energy sector. Send feedback to a_quest57@yahoo.com or columns@gleanerjm.com