Expecting the unexpected

Eskom’s Koko reinstated, Zuma okays state capture inquiry

CONTROVERSIAL Eskom executive Matshela Koko returned to his cushy job at the parastatal on Monday, following what has been described as a sham disciplinary hearing that cleared him of any wrongdoing.

His reinstatement was criticised by opposition parties and business lobby groups, with the Business Leadership SA arguing it flew in the face of complying with the rule of law and holding executives accountable.

The National Union of Mineworkers, on the other hand, welcomed Koko’s return to Megawatt Park in Johannesburg, as group executive of power generation.

But it called for a full investigation into serious allegations of corruption at the power utility.

Koko faced six charges, including of failing to declare a conflict of interest after a company in which his stepdaughter had shares was awarded a R1 billion tender by a division he led.

Numsa criticised the Eskom board’s decision to reinstate Koko, and acting head of group capital Prish Govender to their positions.

The trade union threatened to take legal action over the “seemingly bogus disciplinary process”.

It also came to light this week, in an exclusive published by Business Report, that the development of the Centurion Aerospace Village (CAV) in Pretoria at a cost of R1.1 billion was poised for lift-off.

Just three years ago the project was beset by allegations of fraud, corruption and reckless tender appointments.

In other news, the volatile rand received a much needed boost following fake news that embattled President Jacob Zuma had resigned.

The currency spiked 1.1% in the belief that a new president would succeed Zuma.

In a shock announcement this week and on the eve of a crucial meeting of the ANC national executive committee, Zuma announced he had established a commission of inquiry into state capture to be headed by Deputy Chief Justice Raymond Zondo.

However, the terms of reference are yet to be announced, spurring the Ahmed Kathrada Foundation to say the inquiry must focus on Zuma.

Former acting Eskom interim group chief executive Matshela Koko.