Treasury releases Eskom corruption report

JOHANNESBURG - National Treasury has released an explosive forensic report -- over 600 pages long -- into Eskom and Transnet.

The report deals with investigations into Transnet's procurement of locomotives, procurement of consultancy services from McKinsey, Regiments and Trillian as well as Eskom's procurement of coal from Tegeta.

Regiments, Trillian and Tegeta are connected to the Gupta family.

READ: Eskom suspends Group Capital executive

The report says Malusi Gigaba compromised Transnet's acquisition of new Chinese locomotives by signing as a witness.

It also found that Transnet officials went out of their way to assist China South Rail to ensure their bid is successful.

On Eskom, the report says management prejudiced Glencore by refusing to sign the negotiated coal supply agreement.

READ: Eskom takes steps to secure coal supply

The report also implicates former Eskom executives Matshela Koko, Anoj Singh and Suzanne Daniels in wrongdoing.

Eskom Executive of Group head of Capital, Abram Masango has resigned shortly after he was suspended this morning.

Masango's been accused of misconduct relating to the Kusile Power Station project in Mpumalanga.

In more bad news for the power utility, it's announced a high likelihood of rolling blackouts as coal supplies dwindle.  

National Treasury has released an explosive forensic investigative report into Eskom and Transnet.

Source
eNCA