South African billionaire Patrice Motsepe has denied allegations that the unbundling of Eskom will benefit his firm.
#Motsepe Founder and Chair of the African Rainbow Energy and Power Patrice Motsepe and CEO Brian Dames briefing the media on the recent claims of benefitting from #Eskom unbundling. KM pic.twitter.com/RkcO4vi1uU— EWN Reporter (@ewnreporter) February 18, 2019
Motsepe is the chairperson and founder of African Rainbow Energy and Power.
Both the Energy Minister Jeff Radebe and president Cyril Ramaphosa are Motsepe’s in-laws, reports EWN's Kgomotso Modise.
As a result of this, there have been claims that Ramaphosa’s unbundling plans would benefit Motsepe through the Energy Department.
Motsepe says while his company does have a stake in the equity of the Energy Department’s renewable energy independent power producer program, its share is less than 10%.
He gave assurance that he is a man of integrity and that he abides by the law.— Kgomotso Modise, Reporter - EWN
He also says that the nine renewable energy independent power producer projects that his firm is participating in were acquired from privately owned companies and not the Energy Department.— Kgomotso Modise, Reporter - EWN
The billionaire says he never supported the privatisation of Eskom.
He maintains that his company will not participate in the sale or disposal of any entities or assets of Eskom.
Listen to the EWN update on The John Maytham Show:
This article first appeared on CapeTalk : Billionaire Patrice Motsepe promises to keep hands off Eskom unbundling