Eskom admits it lied when it defended its payments of R1.6 billion to Gutpa-linked financial advisory Trillian and global consultancy McKinsey.
In June, Eskom put forward claims that “all payments” were “based on prudent costs incurred and value created”.
On Monday, however, Eskom conceded the information was false – payments were not approved but, in actual fact, were red-flagged while a legal review of the entire contracting process was recommended.
The Money Show’s Bruce Whitfield interviewed investigative journalist Stephan Hofstatter.
Listen to the interview in the audio below (and/or scroll down for quotes from it).
Eskom paid Trillian R600 million without even having a contract.— Stephan Hofstatter
There were massive irregularities…— Stephan Hofstatter
Eskom today admitted to me they lied... the complete opposite to what they said in June.— Stephan Hofstatter
Eskom realises it can’t continue misleading the public.— Stephan Hofstatter
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
Recommendedby NEWSROOM AI
The ANC is eyeing your pension. Bruce Whitfield interviews Warren Ingram, a personal financial advisor at Galileo Capital.
What will happen to the rand if it does? Bruce Whitfield interviews Tim Nhamo, a currency specialist at Ironhead Trading.
Transnet is on a mission to get back what was stolen from it. Bruce Whitfield interviews its Chairperson, Popo Molefe.
It's not your imagination; we’ve lost a decade. Bruce Whitfield interviews Johann van Tonder, a researcher at Momentum.
The Money Show’s Bruce Whitfield interviews Savannah Mara Senior Partner Rod MacLeod.
Why is its registered address that of a violin shop? Bruce Whitfield interviews Intellidex’s Stuart Theobald.
'There is a drive to combat the acts of illegal doctors that are performing backyard abortions.' says Dr Shaamilah Suleman
John Maytham and his team hopped on board the luxury ocean liner, which has docked in Cape Town, during a special outdoor broadcast.
Cape Town Water Bikes is an unusual way to experience the coastline of the South Peninsula. Hop on a water bike and pedal away!
Many women say they are forced to buy bras from overseas and import them to SA at great expense.
These are the emergency numbers you should have on your cellphone and this is what you must understand about how they work.