Eskom’s funding execution specialist, Sincedile Shweni, is expected to testify before the Commission of Inquiry into State Capture when it resumes in Parktown, Johannesburg on Monday morning.
Last week, Eskom treasurer, Andre Pillay said the power utility’s former executives had insisted on signing off on a transaction with Chinese asset management company, Huarong, despite the board’s instruction not to do so.
Pillay said the signing of the agreement would have committed Eskom to R260 million in fee payments to Huarong before the company even carried out any work for the power utility.
Pillay said that Huarong was roped into the transaction as a facilitator for a 1.5 billion dollar loan from a funding company called Tribus.
He said the terms of the transaction were unsustainable for the power utility. Pillay also said that there was an increased number of McKinsey and Trillian consultants at Eskom following the arrival of former Eskom Executives Brian Molefe and Anoj Singh.
He said Singh tried to impose Gupta-linked company Trillian Capital on a number of Eskom transactions.
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