McKinsey maintains working relationship with Eskom was 'in good faith'

Parliament's Public Enterprises Portfolio Committee has heard from a senior partner at advisory firm McKinsey in the ongoing inquiry into Eskom.

MPs have been told by McKinsey senior partner David Fine that the firm is prepared to repay the money it received from Eskom because the company does not want "tainted money,"

The firm earned R1 billion in fees from the power utility, while its partner company, Trillian, earned around R500 million.

Eyewitness News reporter Rahima Essop has more on the story.

David Fine explicitly said that McKinsey is prepared to pay back the R1 billion it received from Eskom. The question now is to who and how?

Rahima Essop, EWN reporter

McKinsey's relationship with Trillian stems from it's relationship with Regiments. McKinsey maintains that it did not have a contract with Trillian.

Rahima Essop, EWN reporter

The company says Trillian withheld information about its connections with the Gupta's and Salim Essa, and when that became apparent, McKinsey terminated discussions with Trillian about a supplier development partnership -and that was in March 2016.

Rahima Essop, EWN reporter

McKnisey's position is that it had entered into a working relationship with Eskom in good faith.

Rahima Essop, EWN reporter

Click on the link below to listen to the full audio....


Recommended

by NEWSROOM AI
Read More
Eskom Inquiry: Our committee is overseeing its mandate -  DA's Natasha Mazzone

Eskom Inquiry: Our committee is overseeing its mandate - DA's Natasha Mazzone

On Tuesday, Minister Lynne Brown accused the Public Enterprises Portfolio committee of taking the form of a kangaroo court.

The Political Desk: Lynne Brown owes us an explanation

The Political Desk: Lynne Brown owes us an explanation

On Tuesday, Eskom's Khulani Qoma accused Public Enterprises Minister Lynne Brown of repeatedly lying to the public.

#EskomInquiry: Board spokesperson says Brown blocked attempts to suspend Koko

#EskomInquiry: Board spokesperson says Brown blocked attempts to suspend Koko

Khulani Qoma says at one point Ben Ngubani, former chairperson of Eskom. had intended to suspend Koko.

Eskom's financial woes exposed

Eskom's financial woes exposed

Chris Yellend, energy expert, says Eskom has a R80 billion shortfall and still needs to borrow R330 billion in the next five years.

Unravelling Gupta links revealed in Parliamentary Eskom inquiry

Unravelling Gupta links revealed in Parliamentary Eskom inquiry

Journalists Sikhonathi Mantshantsha and Kyle Cowan discuss just how the Guptas and their associates helped capture Eskom.

There is at least R 200 billion that needs to be explained - Ted Blom

There is at least R 200 billion that needs to be explained - Ted Blom

Stephen Grootes spoke to Ted Blom, head of Energy at the Organisation Undoing Tax Abuse (Outa) about the corruption at Eskom.

McKinsey ‘apology’ is full of platitudes – Corruption Watch

McKinsey ‘apology’ is full of platitudes – Corruption Watch

The Money Show’s Bruce Whitfield interviews Corruption Watch Executive Director David Lewis.

McKinsey wishes it had done things differently - Gia Nicolaides

McKinsey wishes it had done things differently - Gia Nicolaides

McKinsey & Company announced on Tuesday that it had suspended all work for state-owned companies until further notice.

Popular articles
[LISTEN] New Visa regulations could change the face of South African tourism

[LISTEN] New Visa regulations could change the face of South African tourism

Lecturer at TUT's Dept of Tourism, Unathi Henama says that the tourism sector is at the center of the economic policies in SA.

We call it Heritage Day so it's more inclusive - Coconut Kelz (Lesego Thlabi)

We call it Heritage Day so it's more inclusive - Coconut Kelz (Lesego Thlabi)

In this segment of the Current Affairs with Coconut Kelz, satirical comedian Lesego Thlabi channels Kelz to chat about Heritage Day.

'My hubby is 75 and we still do it' - stories about sex on the other side of 50

'My hubby is 75 and we still do it' - stories about sex on the other side of 50

Is biology putting the brakes on your sexuality? Callers share their experiences of sex and growing older.

How to get rich by investing in smoking hot US and Canadian dagga shares

How to get rich by investing in smoking hot US and Canadian dagga shares

Returns of 500% are not unheard of. Is this another crypto-like bubble? Not in the least, says Financial Advisor Warren Ingram.

[Watch] Dad breaks down when reunited with car sold to pay wife’s bills

[Watch] Dad breaks down when reunited with car sold to pay wife’s bills

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone viral'.

DStv Premium on a downward spiral, warns tech guru

DStv Premium on a downward spiral, warns tech guru

DStv has lost about 140 000 Premium subscribers to Netflix over the past two years, tech expert Arthur Goldstuck.

[WATCH] Is it a cow's penis or an udder? Well, this kid thinks it's a penis

[WATCH] Is it a cow's penis or an udder? Well, this kid thinks it's a penis

Check out the videos, tweets, Facebook posts that have gone viral and why this kid cheered her dad on in the toilet.

'My daughter bought Spur shares when she was 10 years old' - Dr Adrian Saville

'My daughter bought Spur shares when she was 10 years old' - Dr Adrian Saville

What does Citadel’s famed disciple of contrarian, deep-value investing Dr Adrian Saville hope for (and fear) about money?

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.