Ex-eskom CFO tried to renegotiate Gupta deal

A FORMER senior Eskom official has told the Commission of Inquiry into State Capture the power utility’s disgraced ex-chief financial officer, Anoj Singh, negotiated a discount that a Gupta-owned company had already offered.

Dr Ayanda Nteta, Eskom’s fuel resources senior manager, testified that she was informed by the power utility’s board tender committee that Singh would negotiate a discount with Gupta-owned Tegeta Resources.

This was despite Tegeta Resources offering Eskom a 3.5% discount, yet the committee, which was chaired by the power utility’s former acting chief executive and board member Zethembe Khoza, informed officials that Singh would negotiate a discount.

Nteta said Tegeta had already made that offer to her, but the committee decided Singh would negotiate a discount. According to evidence leader Pule Seleka, the committee was not told Tegeta Resources had already offered the discount. “There was no negotiation necessary as Tegeta had already made the offer of a discount.”

There was no evidence that Singh negotiated a discount, Seleka said, adding that at the parliamentary inquiry into Eskom’s affairs, he indicated he couldn’t recall who he negotiated the discount with.

Nteta said Tegeta Resources chief executive Ravindra Nath told her the R659 million prepayment the Gupta company wanted was for the mine operations.

Nath also told her that the prepayment made in April 2016 was to fund the production requirements of the export component of its soon-to-beacquired Optimum Coal mine.

Nteta admitted she should have received the Tegeta Resources offer before writing the submission to the committee, as this was best practice.

“You were helping Tegeta come up with a reason that would justify the prepayment; that’s the impression it creates,” said Seleka.

Nteta said Tegeta Resources told her it wanted a prepayment verbally, but she left it to other Eskom officials who dealt with prepayments.

She said Nath sent her the pro forma invoice for the R659m the day after making her submission to the committee.

An Eskom finance official later informed her they knew nothing about the invoice.