Eskom admits lying about Trillian and McKinsey payments

State owned power utility, Eskom has admitted it had lied regarding money given to Gupta linked financial advisory firm, Trillian and global consultancy company McKinsey.

Eskom told the media in June, that a review by a consultancy firm based in New York had found the payment above board.

Sikonathi Mantshantsha, Deputy Editor at Financial Mail says the payments to McKinsey and Trillian were used to ensure Eskom retained financial stability and it now turns out the contracts cost the power utility R1.6 billion.

Eskom then denied it had paid any money to Trillian.

Sikonathi Mantshantsha, Deputy Editor at Financial Mail

Anoj Singh approved these payments to Trillian and McKinsey and when questioned about Trillian he said Eskom did not pay a cent to Trillian.

Sikonathi Mantshantsha, Deputy Editor at Financial Mail

Mantshantsha says Advocate Geoff Budlender, who was appointed by the former chairman of Trillian Tokyo Sexwale to investigate the company's role in state capture, discovered that Eskom paid R266 million to Trillian.

Eskom, again through Singh, changed its tune, saying they didn't have a contract with Trillian reports Mantshantsha. He goes on to say that it was Singh, again who misled the media by saying the payments were above board.

They told the Minister of Public Enterprises, Lynne Brown that Eskom did not pay a cent to Trillian and she used that information to lie to parliament. Now Brown is under investigation by the public enterprises committee in parliament for lying to parliament.

Sikonathi Mantshantsha, Deputy Editor at Financial Mail

Mantshantsha explains that former Public Protector, Thuli Madonsela, in her state capture report, found that R235 million had been to help the Guptas pay for coal mine, Optimum which they bought from Glencore.

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This article first appeared on 702 : Eskom admits lying about Trillian and McKinsey payments


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