Charles Church, a former employee of Deloitte Consulting who is testifying virtually from Lagos, Nigeria, drafted the feasibility study that gave rise to the R280m Estina dairy farm project.“significant changes” to projections he made on the project, with capital expenditure, turnover and net profit doubled, compared to the report he compiled for Nulane.
He said the fixed capital was revised from R250m to R500m, turnover doubled from R40m to R80m while net profit was changed from R8m to R16m. Employment opportunities went from 400 to 600 in the documents that ended up with the Free State department of rural development. State witness Charles Church, a former employee of Deloitte consulting testifying virtually from Nigeria. Deloitte consulting was hired by Nulane Investments to conduct a feasibility study at a cost of R1.5m.
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