The power utility is now mired in a new corruption scandal. Suspended Chief Financial Officer Anoj Singh is being accused of signing a dodgy deal with a Chinese company amounting to R400 million as a commission for getting a loan for Eskom in China.
According a news report in a Johannesburg-based business publication, Anoj Singh is said to have signed the contract in March 2017 committing Eskom, which was already cash strapped to pay the Chinese company R400 million for getting Eskom a R2 billion loan in China.
Singh is accused of doing contrary to the advice of Eskom‘s legal department. He’s also accused of ignoring concerns in Eskom that the contract raised suspicions about it being a kickback.
Eskom says the payment was never made and says it will look further into the matter.
The new scandal comes at a time when Eskom is so broke there are concerns that it’s about to go belly up with disastrous consequences for the country.
So dire is Eskom’s financial situation that Finance Minister Malusi Gigaba on Thursday said it now keeps him awake at night.
The latest scandal is bound to feature when Singh appears before the parliamentary inquiry into Eskom next week.
Controversial former Acting Eskom CEO Matshela Koko is also expected to appear before the inquiry next week.
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