Business In The News South Africa

Eskom wants Trillian, McKinsey to pay back funds “unlawfully paid” to them

JOHANNESBURG, October 6 – Power utility Eskom on Thursday said it sought consultancy firm McKinsey and Gupta-linked firm Trillian’s “cooperation” in returning the R1 billion and R564 million, respectively, paid to them “unlawfully” in 2016 and 2017. “The interim findings from Eskom investigations, into the circumstances surrounding payments made to both the companies, point to certain decisions by […]

In The News South Africa

Eskom suspends CFO Anoj Singh and takes disciplinary action against former CEO

JOHANNESBURG, September 29 – South Africa’s state-owned power utility Eskom said on Friday that it has suspended Anoj Singh, its chief financial officer implicated in irregular dealings with the politically-connected Gupta business empire, and taken disciplinary action against former acting chief executive, Matshela Koko. This comes after Public Enterprises Minister Lynne Brown gave Eskom a final […]

Business In The News South Africa

SA business confidence hit by political uncertainty and corruption – analyst

JOHANNESBURG, September 28 – Business confidence in South Africa was at an all-time low as a result of political uncertainty, poor economic performance, policy confusion and a general lack of leadership, a turnaround strategist said on Thursday. Alastair Macduff, chairman and chief executive of the Turnaround Management Association Southern Africa (TMA-SA), said South African businesses were in […]

Business In The News South Africa

Eskom notes suspension of Business Leadership SA membership

JOHANNESBURG, September 28 – Power utility, Eskom, on Thursday, said it noted a decision by Business Leadership South Africa (BLSA) to suspend its membership with immediate effect over allegations of “state capture”.  “Eskom has noted Business Leadership SA’s (BLSA’s) decision to suspend the company’s membership with immediate effect,” the power utility said in a statement. […]

In The News

Power failure stops Rustenburg council meeting

RUSTENBURG, September 26 – A Rustenburg council meeting to be postponed on Tuesday due to power failure.  The council chambers at the Rustenburg Civic Centre was plunged into darkness as councillors were taking their seats for the meeting to start. The meeting was postponed to October 3. Municipal spokesperson Thapelo Matebesi said the outage was due […]

Business In The News South Africa

Brown receives outstanding information on Eskom’s relationship with Gupta-linked Trillian

CAPE TOWN, September 20 – Public Enterprises Minister Lynne Brown has received answers from Eskom to outstanding questions about its relationship with Trillian, a Gupta-linked company, her office said on Wednesday. “Minister Brown last night received Eskom’s responses to her queries. She noted  progress and Eskom will soon announce more details,” her office said. Last […]

In The News South Africa

Defence confident about possible exoneration in Yende murder case

JOHANNESBURG, September 18 – The defence in the case against David Ngwenya who allegedly murdered Eskom employee Thembisile Yende said on Monday that new evidence could exonerate him in the matter. During proceedings at the Springs Magistrates Court, Zola Majavu told the court that new evidence was awaited which could exonerate Ngwenya from the matter and another […]