THE UGLY

Finweek English Edition - - THE WEEK -

Em­bat­tled power util­ity Eskom, which is de­mand­ing above-in­fla­tion tar­iff in­creases from con­sumers, in­curred R3bn in ir­reg­u­lar ex­pen­di­ture in the year to end March, adding to a list of scan­dals to hit the state-owned en­ter­prise in re­cent months. Pay­ments that came un­der fire in­clude nearly R500m to Gupta-linked Tril­lian, de­spite Tril­lian do­ing no work for the util­ity. Eskom, which ini­tially fiercely de­nied ever pay­ing “a cent” to Tril­lian, ad­mit­ted to the pay­ment in July. Eskom’s chief fi­nan­cial of­fi­cer, Anoj Singh, also de­clined to an­swer ques­tions around a Gupta-funded trip to Dubai.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.