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Gupta, Eskom dealings uncovered

3 November 2016 5:14 PM

Public Protector's report states that Eskom might have repeatedly broken the law to accommodate the Gupta family-owned businesses.

The Public Protector's report states that Eskom might have repeatedly broken the law to accommodate the Gupta family-owned businesses.

Financial Mail deputy editor Sikonathi Mantshantsha says the allegations are that Eskom went out it's way to pay Tegeta Resources money not due, in order for Tegeta to buy a mine.

The Public Protector listed no less than 10 transactions that amounted to R1.1 billion from the 29th of January to the 24th of April including the key figure pf R695 million that was paid to Tegeta by Eskom the day before Tegeta was supposed to pay for its acquisition of Optimum.

Sikonathi Mantshantsha, Financial Mail deputy editor

The Public Protector says R910 million of all that money was used to go pay for Tegeta's acquisition of optimum from Glencore. That was 42% of the acquisition price of R2.1 billion.

Sikonathi Mantshantsha, Financial Mail deputy editor

Listen to Mantshantsha explaining Guptas businesses relationships with Eskom below...

Read the full State of Capture report here


3 November 2016 5:14 PM

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