Tegeta wants out of Eskom deal

It is unclear if Eskom will hold Tegeta to its's contract to continue with coal supplies until it finds another alternative.

Public Protector, Thuli Madonsela, said Eskom's transactions with Gupta-owned Tegeta were illegal in her State of Capture report released last week.

EWN reporter Gia Nicolaides explained that this deal came into effect last year after Glencor - which was in financial trouble - approached Eskom wanting to increase the price of coal to R500 per ton.

Eskom said no and and then began scavenging for coal when South Africa was on the brink of load shedding. Tegeta was chosen and Eskom said the deal was above board along with a pre payment deal where the power utility paid upfront for the coal and the monies have since been paid back. Madonsela called this deal illegal.

Gia Nicolaides, EWN reporter

Tegeta now wants to pull out and we don't know why. They have said that Oakbay's (holding company) broader strategy is to reduce shareholding in various companies.

Gia Nicolaides, EWN reporter

Nicolaides spoke to Ray White (standing in for Stephen Grootes) about Eskom, it's CEO Brian Molefe and Minister of Mineral Resources, Mosebenzi Zwane's intentions of taking the State of Capture report on review and how President Zuma is responsible for appointing an enquiry as per the report. Listen here:


Recommended

by NEWSROOM AI
Read More
Mahumapelo "rebellion" and political killings in KZN signal deep crisis in ANC

Mahumapelo "rebellion" and political killings in KZN signal deep crisis in ANC

Political analyst, Prince Mashele, looks at both provinces saying the ANC has become a vehicle to amass wealth.

Throw out the dry doggie treats, now there's ice-cream for your beloved pooch!

Throw out the dry doggie treats, now there's ice-cream for your beloved pooch!

The creator of the ice-cream, which comes in three delicious flavours, talks to Kieno Kammies about the new product.

Eskom disputes Madonsela's findings

Eskom disputes Madonsela's findings

Day two of Eskom's press conference is underway in Johannesburg responding to Madonsela's findings in state capture report.

Molefe makes light of evidence of Gupta visits ('There's a shebeen there…')

Molefe makes light of evidence of Gupta visits ('There's a shebeen there…')

The Money Show’s Bruce Whitfield interviews EWN's Gia Nicolaides about the Eskom CEO’s response to the state capture report.

Gupta, Eskom dealings uncovered

Gupta, Eskom dealings uncovered

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

Molefe slams Madonsela for not allowing him to explain state capture allegations

Molefe slams Madonsela for not allowing him to explain state capture allegations

Public Protector's report reveals that Eskom made certain deals with the Guptas to benefit the family's companies.

Popular articles
[LISTEN] Father shares how he shot the man who raped his daughter

[LISTEN] Father shares how he shot the man who raped his daughter

Johannesburg father, Chris says he had just come back from work when he walked in on an employee raping his 17 year old daughter.

Why the PAC wants South Africa renamed Azania

Why the PAC wants South Africa renamed Azania

Pan Africanist Congress's Narius Moloto explains why it supports the name Azania, a word which he says has Arabic origins.

Is the lovable Winnie The Pooh a boy or girl?

Is the lovable Winnie The Pooh a boy or girl?

A trending Twitter debate has left social media users arguing over whether Winnie the Pooh is a girl or boy.

UPDATE: Chilling WhatsApp from Marli van Breda's ex-boyfriend read out in court

UPDATE: Chilling WhatsApp from Marli van Breda's ex-boyfriend read out in court

Marli van Breda's ex took the stand in the trial of triple murder accused Henri van Breda.

Douw Steyn is one of Africa’s richest (yet you may not have heard of him)

Douw Steyn is one of Africa’s richest (yet you may not have heard of him)

Bruce Whitfield interviews Forbes Africa's Chris Bishop to find out more about this lesser known South African billionaire.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?