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ABB to pay back R2.5 billion from fraudulent Eskom contracts it was awarded

  • Eskom logo with power lines.
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The National Prosecuting Authority’s Investigative Directorate has finalised a settlement agreement with the power and automation engineering company ABB to pay over R2.5 billion in reparations to South Africa.

This settlement is in line with the serious crimes ABB committed at Eskom during the State Capture period.

The payment must be made into South Africa’s Criminal Asset Recovery Account (CARA) within 60 days from 1 December.

ABB has acknowledged liability and taken responsibility for the alleged criminal conduct of its employees involving contracts with Eskom.

SIU says Eskom executives and employees implicated in the ABB contract will be pursued

NPA spokesperson Mthunzi Mhaga says, “In terms of this agreement. The ABB will be paying over R2.5 billion into the Criminal Asset Recovery Account and as part of this agreement. They will be cooperating with the Investigating Directorate by providing evidence that will assist in prosecuting and investigating these employees and directors of the company that are implicated in corruption and State Capture.”

 

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