Former Eskom interim CEO Sean Maritz is under fire for his role in signing off a R400 million payment to a Hong Kong bank account. MD of EE Publishers Chris Yelland provides insight into the deal that took place and what it entailed.
Yelland says that the deal is murky and adds that he hasn’t received a direct response from Eskom, who claims that it is investigating the deal.
He adds that the story, first reported by Business Day, noted this little-known company was wanting to charge Eskom a 'facility' fee for assisting the company to raise several billion rands finances to fund Eskom subsidised from a Chinese funder.
Apparently after the finance deal was concluded, out of the blue popped a new company that claimed a facility fee for helping to arrange this.— Chris Yelland, MD of EE Publishers
Yelland says the legal team at Eskom claims it is completely unaware of the company, or what arrangements were made.
He has a copy of the contract that was signed off by Former Eskom interim CEO Sean Maritz.
Documents have come to light which show that the facility fee contract was entered into by Anoj Singh and signed off by the acting CEO Sean Maritz some time later.— Chris Yelland, MD of EE Publishers
It’s signed by the acting CEO but the payment has been blocked because it is considered and deemed to be irregular and against the advice of Eskom’s internal and external legal advisers.— Chris Yelland, MD of EE Publishers
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This article first appeared on 702 : Former Eskom interim CEO Sean Maritz under fire for signing off R400 mil payment