HomeIndustry SectorsFinance and PolicyEskom Board deliberates on investigations underway

Eskom Board deliberates on investigations underway

On Tuesday, the Eskom Board met and deliberated on progress in regard to the various investigations and disciplinary processes underway.

The utility said in a statement that the ‘Technical Review’ matter will attract a charge against the responsible individuals once the facts have been confirmed.

Disciplinary processes against four senior executives are continuing as the charges have been served to the individuals concerned. Read more…

Resolving McKinsey/Trillian

In a separate statement, the parastatal disclosed that in addition to the abovementioned investigations, it was going to be considering all matters pertaining to McKinsey and other topical issues.

The public enterprises minister, Lynne Brown, yesterday gave the utility a 48-hour deadline by which it had to clarify issues relating to its Trillian relationship.

According to the ministers spokesman, Colin Cruywagen: “In June, Minister Brown requested Eskom’s board to clarify issues relating to its Trillian relationship. Following further revelations of impropriety yesterday she has instructed the board to table its report in 48 hours.”

Citing the African News Agency, Engineering News reported that the utility on Monday admitted to have lied about payments of more than R1.5 billion to Trillian Capital Holdings, a firm linked to the controversial Gupta family, and consultancy firm McKinsey.

“The power utility claimed the payments were above board following the release of a damning report into Trillian by advocate Geoff Budlender,” Engineering News reported adding that “it said fellow global management consultancy, Oliver Wyman, had concluded that the payments were “based on prudent costs incurred and value created.”

Bad coverage

Explaining the grounds for the Eskom Board meeting, Zethembe Khoza, Eskom acting chairman, said: “The main objective of the meeting is to find a lasting solution to stem the negative coverage in order to begin a journey to curve out a path towards brand restoration.”

He added that a more detailed statement will be issued to the media post the meeting wherein certain actions and/or decisions will be contained.

Khoza added: “The stubborn negative coverage and general stakeholder dissonance are deeply concerning. As Board, we have been ceased with a great deal of work, internally, to correct the situation. We draw comfort in the progress we have made thus far.”

Khoza stated that his Board is not going to tolerate any proven wrongdoing by whoever is involved.


Featured image: Eskom

Ashley Theron
Ashley Theron-Ord is based in Cape Town, South Africa at Clarion Events-Africa. She is the Senior Content Producer across media brands including ESI Africa, Smart Energy International, Power Engineering International and Mining Review Africa.