HomeIndustry SectorsFinance and PolicyMinister Brown requests further clarity on Trillian report

Minister Brown requests further clarity on Trillian report

On Friday, the South African enterprises minister, Lynne Brown, called for further information pertaining to Eskom’s Trillian case following uncertainty in the recently presented report.

Engineering News cited a source who revealed that Eskom’s report contained several gaps, which Brown wanted answers on.

Clarity on Trillian

In June, the Minister requested the Eskom Board to clarify its issues relating to its Trillian relationship.

This matter was then escalated when she gave the utility a 48-hour deadline in August. Read more…

The utility last week admitted that it had lied about payments of more than R1.5 billion ($154.7 million) to Trillian Capital Holdings, a firm linked to the controversial Gupta family, and consultancy firm McKinsey.

“The power utility earlier claimed the payments were above board following the release of a damning report into Trillian by advocate Geoff Budlender,” Engineering News said.

The parastatal reportedly said that its fellow global management consultancy, Oliver Wyman, had concluded that the payments were “based on prudent costs incurred and value created”.

However the utility later disclosed that Wyman had red-flagged the payments and had recommended a legal review of the transactions.

Addressing “bad coverage”

In addition to addressing the Trillian matter, the Eskom Board was concerned about the negative coverage and general stakeholder dissonance – an issue addressed in their meeting last month.

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.