Snehal Nagar and Gert Opperman of Eskom’s Primary Energy Division will testify before the Commission of Inquiry into State Capture when it continues in Parktown, Johannesburg on Monday morning.
On Monday, Eskom’s Funding Execution specialist, Sincedile Shweni, agreed that Chinese asset management company Huarong circumvented Eskom’s tender procurement process and was unfairly favoured in securing business with the power utility.
He said the tender evaluation committee could not consider all the proposals equally because Huarong had already signed a term sheet from Eskom.
Shweni said that Huarong wanted Eskom to pay a R400 million facility fee to an inactive shell company that it had listed as its subsidiary.
Shweni said that the South African Reserve bank may have not approved the Huarong loan agreement if he had stated all the concerns relating to the transaction.
He said that he failed to address concerns about the fees stated in the term sheet and Huarong’s questionable company structure.
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