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

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


Recommended

by NEWSROOM AI
Read More
Tips for graduates to become workplace-ready

Tips for graduates to become workplace-ready

Labour law expert advocate Ronel de Jager gives newly qualified job seekers advice on how to get into the job market.

EFF: Pauli van Wyk and Marianne Thamm are working with Gordhan and Hanekom

EFF: Pauli van Wyk and Marianne Thamm are working with Gordhan and Hanekom

Economic Freedom Fighters Mbuyiseni Ndlozi explains why it banned the Daily Maverick and amaBhungane from attending its events.

It is sickening what Thabo Mbeki said, callers tell Eusebius

It is sickening what Thabo Mbeki said, callers tell Eusebius

Callers on the open line critique the former president's tribute to Robert Mugabe and say he rewrote history.

Is Cyril Ramaphosa in control of both state and ANC? Pundits discuss

Is Cyril Ramaphosa in control of both state and ANC? Pundits discuss

Eusebius McKaiser facilitates a robust debate on the state of South African politics.

SACP supports Eskom split provided it doesn’t lead to job losses

SACP supports Eskom split provided it doesn’t lead to job losses

The organisation's central committee held its first three day plenary session for 2019 at the weekend.

Mabuza testifies Koko distributed confidential and classified Eskom files

Mabuza testifies Koko distributed confidential and classified Eskom files

EWN reporter Clement Manyathela says Eskom board chair Mabuza is sharing details on Koko charges at the state capture inquiry.

Popular articles
EFF: Pauli van Wyk and Marianne Thamm are working with Gordhan and Hanekom

EFF: Pauli van Wyk and Marianne Thamm are working with Gordhan and Hanekom

Economic Freedom Fighters Mbuyiseni Ndlozi explains why it banned the Daily Maverick and amaBhungane from attending its events.

Burger King rebrands as Bacon King (but drops 'ham' from the word 'hamburger')

Burger King rebrands as Bacon King (but drops 'ham' from the word 'hamburger')

"They seem to have succumbed to consumer pressure," says branding and advertising expert Andy Rice.

It is sickening what Thabo Mbeki said, callers tell Eusebius

It is sickening what Thabo Mbeki said, callers tell Eusebius

Callers on the open line critique the former president's tribute to Robert Mugabe and say he rewrote history.

'I am proud of Ndlovu Youth Choir's performance on AGT,' says conductor

'I am proud of Ndlovu Youth Choir's performance on AGT,' says conductor

Ralf Schmitt weighs in on the incredible achievement of performing in the finals of America's Got Talent.

[WATCH] Reporter saying dead man 'was unavailable for comment,' goes viral

[WATCH] Reporter saying dead man 'was unavailable for comment,' goes viral

Khabazela shares tweets and Facebook posts that have gone viral.

[WATCH] Mzansi's Ndlovu Youth Choir's wows at AGT finale, voting is underway

[WATCH] Mzansi's Ndlovu Youth Choir's wows at AGT finale, voting is underway

South Africa waits with bated breath as the countdown to the winner of America's Got Talent begins.

10 unexpected things that most truly rich people have in common

10 unexpected things that most truly rich people have in common

Personal finance expert Warren Ingram on the money values that those "worth" R40 million or more almost invariably have in common.

Forensic investigator pokes holes in Watson death probe

Forensic investigator pokes holes in Watson death probe

The recent findings of a private pathologist ruled out suicide as the cause of death of the former Bosasa boss.

[WATCH] Man and woman assaulting a motorist goes viral, for the wrong reasons

[WATCH] Man and woman assaulting a motorist goes viral, for the wrong reasons

Khabazela shares tweets and Facebook posts that have gone viral.