Streaming issues? Report here
Africa Melane June 2020 Africa Melane June 2020
Early Breakfast with Africa Melane
04:00 - 06:00
volume_up
volume_mute

Up Next: Breakfast with Bongani Bingwa
See full line-up
Early Breakfast with Africa Melane
04:00 - 06:00
Home
arrow_forward
Local
fiber_manual_record
Politics

Is Eskom chair Jabu Mabuza tainted? A look at his perceived conflict of interest

27 February 2019 12:55 PM
Tags:
State Capture
Jabu Mabuza
Conflict
New Eskom board
Zondo Comission of inquiry

Some questions have been raised about an alleged conflict of interest that Mabuza revealed at the commission last week.

Eskom board chairperson Jabu Mabuza is continuing his testimony at the state capture commission.

Some questions have been raised about an alleged conflict of interest that Mabuza revealed at the commission last week.

Mabuza became chairman in January 2018 and was appointed along with other new board members, explains Financial Mail's Sikonathi Mantshantsha.

He told the commission last week that he had bought 6% of shares in Sphere Investment worth R26 million.

Sphere has shareholdings in boiler-serve contractor Babcock, which services a third of Eskom's coal power stations, Mantshantsha says.

Mabuza maintains that he has no direct input or involvement at Sphere Investment or Babcock.

He says that once he accepted the position of board chairperson, he declared all his interests and resigned as executive chair of Sphere.

He adds that his shares were also been put in a blind trust.

Mabuza said that he bought shares in a company called Sphere which serviced a third of Eskom's coal power stations.

Sikonathi Mantshantsha, deputy editor at the Financial Mail

Mabuza says he bought 6% of shares in Sphere for R6 million.

Sikonathi Mantshantsha, deputy editor at the Financial Mail

He says that after his appointment, he called Standard Bank to ask the Trust Division to manage his interest and put it into a blind trust.

Sikonathi Mantshantsha, deputy editor at the Financial Mail

Mantshantsha explains the significance of Mabuza's testimony before the Zondo inquiry.

Listen to the discussion on The Eusebius McKaiser Show:


This article first appeared on CapeTalk : Is Eskom chair Jabu Mabuza tainted? A look at his perceived conflict of interest


27 February 2019 12:55 PM
Tags:
State Capture
Jabu Mabuza
Conflict
New Eskom board
Zondo Comission of inquiry

More from Local

Covid-19 testing statistics modelling 123rf

COVID-19 UPDATE: SA recoveries reach 437,617, a 76% recovery rate

13 August 2020 11:14 PM

The number of confirmed cases is 572,865. There were 260 new coronavirus-related deaths, bringing the total number to 11,270.

Share this:
Read More arrow_forward

Covid-19-PPE-personal-protective-equipment-gloves-mask-glasses-healthcare-123rf

In few weeks there'll be a second vaccine trial and another in September - MRC

13 August 2020 5:22 PM

Dr Glenda Gray has suggested that health officials go back to communities and trace hotspots areas.

Share this:
Read More arrow_forward

zondo.jpg

Witness tells Zondo Inquiry about threats, moving piles of money with Molefe

13 August 2020 4:57 PM

A Transnet security officer who was sent on errands, including picking up bags of money from the Guptas, said that he had been threatened every time he was interviewed by or testified at the Zondo Commission.

Share this:
Read More arrow_forward

old people

[LISTEN] Old age homes struggling to stay afloat

13 August 2020 4:45 PM

GroundUp has reported on the plight of some old age homes that have not received their usual subsidy from government.

Share this:
Read More arrow_forward

David Makhura

Gauteng keen to start relaxing lockdown regulations - report

13 August 2020 4:27 PM

Premier David Makhura says the province has returned to the open tender system and would publish newly awarded tenders monthly.

Share this:
Read More arrow_forward

devoted-citizenjpg

Devoted Citizen petition seeks to hold government officials accountable

13 August 2020 4:19 PM

Spokesperson Reverend Chris Mathebula says it cannot be business as usual. 'We want that stolen money to be brought back.'

Share this:
Read More arrow_forward

200810bob2gif

WATCH LIVE: Bob Mabena remembered at virtual memorial service

13 August 2020 3:19 PM

The broadcaster died earlier this week after suffering a cardiac arrest.

Share this:
Read More arrow_forward

reach-for-a-dream-2jpg

Reach for a Dream calls for public to get behind its Virtual Slipper Week

13 August 2020 1:25 PM

CEO Julia Sotirianakos says the campaign will run until 16 August and people can buy slippers on the organisation's website.

Share this:
Read More arrow_forward

dovhani-mamphiswanajpg

'It's incredible that suspended DG continues get salary instead of being fired'

13 August 2020 11:11 AM

DA says Ramaphosa's suspension of PSC boss Mamphiswana is a delaying tactic to make it look like there is action being taken.

Share this:
Read More arrow_forward

tears-foundationjpg

Tears Foundation receives Random Act of Kindness from Dis-Chem Foundation

13 August 2020 10:46 AM

Dis-Chem will help the foundation with a R120,000 donation to help maintain the call centre and whatever else may be needed.

Share this:
Read More arrow_forward

More from Politics

fuel-tank-petrol-car-motorist-driving-driver-refuelling-123rf

'Govt can't simply be a spectator if fuel retailers to survive drop in sales'

13 August 2020 6:50 PM

Namibia's government assisted Covid-hit retailers, but SA doesn't understand how the industry works says Reggie Sibiya (FRA CEO).

Share this:
Read More arrow_forward

d1hsq8kwwaaxresjpg

'ANC executives, please, you have messed up. Get out,' says Bantu Holomisa

13 August 2020 6:08 PM

United Democratic Movement leader Bantu Holomisa has proposed that there be an interim government.

Share this:
Read More arrow_forward

Cyril Ramaphosa

Speculation rife that President Cyril Ramaphosa will address the nation

13 August 2020 4:11 PM

The president is expected to address the nation on developments in SA's risk-adjusted strategy to manage the spread of COVID-19

Share this:
Read More arrow_forward

Mine mineworker mining gold platinum coal 123rfbusiness 123rf

Marikana massacre: 'Still no accountability for mineworkers killed 8 years ago'

13 August 2020 1:22 PM

EWN reporter Theto Mahlakoana gives an update of a commemorative webinar dedicated to miners who died in Marikana.

Share this:
Read More arrow_forward

Cyril Ramaphosa

Is Ramaphosa ready to announce Level 2? What an economist would like him to say

12 August 2020 6:51 PM

The Money Show's Bruce Whitfield interviews Kevin Lings, chief economist at Stanlib Asset Management.

Share this:
Read More arrow_forward

Public Protector Busisiwe Mkhwebane. Picture: Abigail Javier/EWN

PP takes Parliament to court over bid to remove her, calls bid unconstitutional

12 August 2020 1:09 PM

News24 parliamentary reporter Jan Gerber reflects on the court case between Busisiwe Mkhwebane and the National Assembly.

Share this:
Read More arrow_forward

Out of business 123rf 123rfbusiness 123rflifestyle

R200b Covid-19 loan scheme's paid out only R13b. Can a makeover get it to work?

11 August 2020 8:48 PM

Since it launched in May, the scheme's helped only 6.6% of businesses it targets. Will recent changes lead to improvement?

Share this:
Read More arrow_forward

123rf A pile of two hundred rand notes, South African currency money

Eskom pensioners receive Covid 19-relief bonuses totalling R104m

11 August 2020 7:25 PM

The Money Show's Bruce Whitfield interviews Eskom's Linda Mateza about the once-off payment to its pensioners.

Share this:
Read More arrow_forward

190715-des-van-rooyen-edjpg

Thank God van Rooyen wasn't finance minister for longer, Zondo commission told

11 August 2020 6:43 PM

Lungisa Fuzile (former National Treasury DG) tore into former minister Des van Rooyen's performance and choice of advisers.

Share this:
Read More arrow_forward

200811-des-van-rooyen-edjpg

Van Rooyen blames Madonsela & white-owned media for state capture allegations

11 August 2020 5:46 PM

The former Cabinet minister, during his testimony on Tuesday at the state capture inquiry, accused the former Public Protector of making findings against him without giving him an opportunity to answer.

Share this:
Read More arrow_forward