KEY POINTS TO EMERGE THIS WEEK

CityPress - - Business -

. The re­sult of an ar­bi­tra­tion pro­ceed­ing saw Gup­taas­so­ci­ated com­pany Tegeta Re­sources’ fine for poor qual­ity coal at Op­ti­mum Coal re­duced to R577 mil­lion from R2.1 bil­lion.

. Eskom’s gov­er­nance is in cri­sis with the util­ity be­ing the sub­ject of a num­ber of ex­ter­nal probes and in­ter­nal re­views. CFO Anoj Singh came un­der fire this week for his in­volve­ment in the Tega-Gupta deal. Act­ing CEO Johnny Dladla said im­prov­ing “gov­er­nance, ethics and ac­count­abil­ity” was one of five key ar­eas of fo­cus for him. How­ever, Dladla said that noth­ing war­ranted him to sus­pend Singh.

. Eskom doesn’t need Fi­nance Min­is­ter Malusi Gi­gaba’s pos­si­ble of­fer of “soft sup­port”. Pub­lic En­ter­prises Min­is­ter Lynne Brown de­clined to com­ment on Gi­gaba’s note ear­lier this month.

. Eskom paid McKin­sey R900 mil­lion and then paid Gupta-linked Tril­lian R495 mil­lion with­out hav­ing any con­tract with Tril­lian. Dladla said he had sus­pended work with McKin­sey and he was do­ing an in­ves­ti­ga­tion into the mat­ter.

. A McKin­sey spokesper­son said that Eskom paid McKin­sey and Tril­lian sep­a­rately in re­spect to work on its cor­po­rate plan and turn­around pro­gramme.

“McKin­sey never had a sub­con­tract with Tril­lian,” the spokesper­son said.

. A let­ter by a McKin­sey part­ner in Fe­bru­ary last year in­ac­cu­rately char­ac­terised Tril­lian as a sub­con­trac­tor of McKin­sey.

. The au­di­tor of Eskom’s lat­est re­sults qual­i­fied the util­ity’s au­dit re­port and found to two re­portable ir­reg­u­lar­i­ties.

. Eskom is set to dis­ci­pline its for­mer act­ing CEO Mat­shela Koko over a con­flict of in­ter­est re­lated to Im­pulse In­ter­na­tional and his step­daugh­ter, Koketso Choma, who was in­volved in the com­pany that se­cured R1 bil­lion in deals from Eskom Gen­er­a­tion when Koko was head of that unit.

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