Corruption costs Eskom billions of rands, says Gordhan

Public Enterprises Minister Pravin Gordhan says corruption has cost Eskom billions of rand.

JOHANNESBURG - Public Enterprises Minister Pravin Gordhan says corruption has cost Eskom billions of rand.

He says South Africa's ports are also suffering because of state capture.

"Suddenly everybody finds bailouts for Eskom a problem, but we've forgotten that as the President pointed it out yesterday that Eskom was one of the prime targets of state capture and corruption. Some where between a R20-billion or more were lost," Gordhan said.

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"Even as we're sitting here today there are seven companies that supply coal to the coal power stations of Eskom who make more than a 100 percent profit. There's another four or five companies that make more than 50 percent profit. Now is that the conduct we want to see from our business community?" asks Gordhan.

Gordhan was addressing the Drakensberg Inclusive Growth Forum hosted by the Kgalema Motlanthe Foundation.

Watch the video above.

Source
eNCA