Business In The News South Africa

Trillian raked in money for nothing, knew Nene and Gordhan would be fired, Eskom inquiry hears

PARLIAMENT, October 31 – A former top executive of Trillian Capital Partners on Tuesday confirmed that the company did work for Eskom to the tune of R600 million without any formal contract with the power utility after earning R93 million from Transnet for no services rendered. Mosilo Mothepu’s testimony before Parliament’s inquiry into state capture painted […]

Business In The News South Africa

Gauteng provincial government stops Eskom power cuts in Merafong

JOHANNESBURG, October 26 – The Gauteng provincial government on Thursday said it had intervened to stop Eskom from cutting electricity services to defaulting Merafong Local Municipality. In August Eskom said Merafong owed R122,288,573 in unpaid bills for bulk supplies of electricity. At the time the power utility threatened to cut off supplies to the municipality. […]

Business In The News South Africa

National Treasury to work with public enterprises to right Eskom

PARLIAMENT,  October 25 – A team of experts from National Treasury will work with the department of public enterprises to correct governance and financial management problems at Eskom, Finance Minister Malusi Gigaba said in his medium-term budget policy statement on Wednesday. He singled out the power utility as a source of particular concern for government, […]

In The News South Africa

Eskom terminates services of evidence leader in the Koko disciplinary hearing

JOHANNESBURG, October 21 – Eskom has terminated the services of its evidence leader Sebetja Matsaung in the disciplinary hearing of suspended Eskom acting CEO Matshela Koko, the power utility said on Saturday. This followed an altercation between Matsaung and the Financial Mail’s deputy editor Sikonathi Mantshantsha after the hearing was adjourned on Friday, Eskom said […]

In The News

Parliamentary committee rejects Black First Land First’s demand that it stop Eskom inquiry

PARLIAMENT, October 20 – Parliament’s portfolio committee on Public Enterprises on Friday rebuffed a demand from Black First Land First (BLF) to stop its inquiry into Eskom, which the group termed a witchhunt against the Gupta family. Committee chairwoman Zukiswa Rantho asked MPs how she should respond to the missive, which threatened legal action should […]

Business In The News South Africa

McKinsey admits errors in Eskom contracts, halts work with SOEs

JOHANNESBURG, October 17 – Global consultancy firm McKinsey & Company admitted on Tuesday that it made “several errors of judgment” in the way it handled contracts with South African power supplier, Eskom, adding that it was not careful enough about who it associated with when taking such contracts. Earlier this month Eskom demanded that McKinsey and Gupta-linked […]