'They didn't ask!' McKinsey and Trillian on why no interest was paid to Eskom

Consulting company McKinsey and Gupta-associated Trillian have both agreed to repay the R1.6 billion they received from Eskom.

Deputy Editor at Financial Mail Sikonathi Mantshantsha says McKinsey has been keeping the R1 billion in a trust fund for a over a year but is surprised that nobody is talking about the interest.

Read: Trillian and McKinsey are finally going to face the music - Vavi

When I did ask them about the interest they said to me, 'Well, Eskom did not ask for it.'.

Sikonathi Mantshantsha, Deputy Editor at Financial Mail

According to Mantshantsha the interest on the amount over 12 months should be in the region of R160 million.

That is a bribe on its own. If you were to let me keep it, of course I'd be happy to return the stolen R1.6 billion

Sikonathi Mantshantsha, Deputy Editor at Financial Mail

To hear the rest of the analysis from Sikonathi Mantshantsha, listen below:


Recommended

by NEWSROOM AI
Read More
Casac: SA can be proud of Nombembe and state capture inquiry team

Casac: SA can be proud of Nombembe and state capture inquiry team

Casac head Lawson Naidoo says he's surprised that the EFF would attempt to discredit the commission of inquiry into state capture.

EFF accuses state capture inquiry's Nombembe's of bribery

EFF accuses state capture inquiry's Nombembe's of bribery

The Economic Freedom Fighters raise dissatisfaction over the state capture inquiry.

What next for Eskom after top execs linked to corruption resign

What next for Eskom after top execs linked to corruption resign

EWN reporter Gia Nicolaides gives a detailed analysis of happenings at Eskom and the resignation of top executives.

Lynne Brown resigns as MP

Lynne Brown resigns as MP

Lynne Brown has resigned as an MP and this has been confirmed by the ANC in Parliament.

The Political Desk: Dudu Myeni a 'no-show' at state capture inquiry

The Political Desk: Dudu Myeni a 'no-show' at state capture inquiry

On Wednesday Parliament resumed its inquiry into state capture at Eskom

Public Enterprises Ministry defends Brown, says facts being twisted

Public Enterprises Ministry defends Brown, says facts being twisted

Minister Lynne Brown's spokesperson says reports that she intentionally misled Parliament are untrue.

Koko resigns from Eskom

Koko resigns from Eskom

Matshela Koko fought tooth and nail to keep his job, despite crushing evidence against him. Ray White interviews EWN’s Gia Nicolaides.

[LISTEN] Former Trillian exec on why she blew the lid on corruption

[LISTEN] Former Trillian exec on why she blew the lid on corruption

Bianca Goodson says weeks before she resigned, the Trillian CFO Tebogo Leballo said Pravin Gordhan would be replaced.

Eskom vs McKinsey contract debacle explained

Eskom vs McKinsey contract debacle explained

This follows a change in tune by Eskom that the contract with Mckinsey was above board and that there was nothing wrong with it.

Popular articles
Rail Enforcement Unit to be rolled out this week in the WC

Rail Enforcement Unit to be rolled out this week in the WC

The unit is aimed at curbing crime on trains as well as the destruction of railway infrastructure.

WATCH: Monkey takes the wheel, and Trump says climate change will "change back"

WATCH: Monkey takes the wheel, and Trump says climate change will "change back"

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone viral'.

Ramaphosa sets the ball rolling for the appointment of new NDPP

Ramaphosa sets the ball rolling for the appointment of new NDPP

Several legal entities and independent public institutions have been asked to help select possible candidates for the position.

Tito Mboweni, Pik Botha, VBS and Floyd Shivambu - no holds barred on The Debrief

Tito Mboweni, Pik Botha, VBS and Floyd Shivambu - no holds barred on The Debrief

Politician Lindiwe Mazibuko, economist Refilwe Moloto, and journalist Rose Rogers have discussed the biggest topics this week.

Snakes season is here and if the crawlies visit you, here's what to do

Snakes season is here and if the crawlies visit you, here's what to do

Snake handler Willem van Zyk of Blouberg Snake Rescue says he's already being kept busy with callouts.

'VBS stolen money bought the most useless things like Ferraris and helicopters'

'VBS stolen money bought the most useless things like Ferraris and helicopters'

Deputy editor at Finacial Mail Sikonathi Mantshantsha says it is mind-boggling why no one has been arrested in the VBS saga.

Cape Town tenants could see property prices ease up, says RE/MAX

Cape Town tenants could see property prices ease up, says RE/MAX

The Cape Town rental market is said to be experiencing a major correction phase after an unjustified period of escalated prices.