Matshela Koko: Glencore made its bed and it had to lie on it
By Opinion
Matshela Koko
OPINION - Hitherto Glencore was often presented as a victim that was bullied out of Optimum Coal Holdings (Optimum) with the help of Eskom.
Eskom, then under the control of Mr. Brian Molefe, Dr Ben Ngubane and Mr. Matshela Koko allegedly squeezed Glencore out of business and signed a R1.6 billion guarantee in favour of Tegeta to help it buy the shares of Glencore in Optimum.
The revelation at the State Capture Commission already show that Glencore was not the innocent bystander.
Glencore made its bed and it had to lie on it.
Former Eskom CEO Brian Molefe, who is the target of a civil and criminal lawsuit, has implicated President Cyril Ramaphosa in the irregular contracts at Eskom…
Molefe Seeletsa Eskom has been investigating all suspicious contracts for the past few years, with a view of recovering any losses it suffered as a result of criminal activities, said Eskom s CEO. File picture: Gupta brothers, Ajay and Atul.
Speaking to the media on Friday, De Ruyter welcomed the announcement that ABB South Africa, formerly ASEA Brown Boveri, had reached an agreement with the Special Investigating Unit (SIU) to repay Eskom R1.5 billion for an overpayment on a contract awarded for work on the Kusile power station project.
De Ruyter said the R1.5 billion would be used to reduce Eskom’s debt and debt service costs.
11 Dec 2020
ABB South Africa has reached an agreement with Eskom and the Special Investigating Unit (SIU) to repay the power utility R1.56 billion.
This is related to overpayments made by Eskom to the contractor for work done at Kusile power station.
The SIU has said this is the largest recovery it has made since it started reviewing contracts at the power utility.
Public Enterprises Minister Pravin Gordhan has said there are tens of billions more to be recovered from irregular contracts with state-owned enterprises.
11 Dec 2020
Gordhan says that the issues with the tender system do not solely lie with Eskom. It is also related to the private companies seeking to exploit weaknesses in the tender process or manipulate the system.