Business In The News South Africa

Eskom signs $180mln loan with BRICS bank to connect 670MW of renewable energy

JOHANNESBURG, 1 April – The New Development Bank (NDB) and South African power utility Eskom on Monday signed a U.S.$180 million loan agreement to connect 670MW of renewable energy projects to the national grid. Under the agreement, the bank will provide a loan with a sovereign guarantee to Eskom for renewable energy integration and transmission augmentation project. The […]

In The News South Africa

Gordhan, Eskom’s Mabuza to address power crisis as rolling blackouts continue

JOHANNESBURG, March 19 – South Africa’s state-owned electricity company Eskom continued implementing rolling blackouts on Tuesday as its crippled generating units struggled to supply enough power in a crisis likely to further hurt the ailing economy. The government said public enterprises minister Pravin Gordhan and Eskom chairman Jabu Mabuza would address the media on the current electricity […]

Lead South Africa

Eskom employees were pressured to sign R4.3bln contract with Tegeta, Zondo inquiry hears

JOHANNESBURG, February 26 – Eskom executive Daniel Mashigo on Tuesday told the Zondo Inquiry that the financial evaluation of Gupta family coal mining company Tegeta Resources was done “just to tick the box” after a multi-billion rand contract with Eskom had already been signed. In 2014, Eskom entered into a 10-year coal supply agreement worth […]

Lead South Africa

Mabuza says Koko leaked Eskom documents to help Trillian, McKinsey

JOHANNESBURG, February 25 – Eskom chairperson Jabu Mabuza told the Zondo Inquiry on Monday that former acting chief executive, Matshela Koko, leaked confidential documents to third party companies that wanted to do consulting business with Eskom. Resuming his testimony on Monday, Mabuza reiterated his allegation that emails retrieved from Koko’s server show that Eskom’s confidential documents […]