Is Eskom chair Jabu Mabuza tainted? A look at his perceived conflict of interest

Eskom board chairperson Jabu Mabuza is continuing his testimony at the state capture commission.

Some questions have been raised about an alleged conflict of interest that Mabuza revealed at the commission last week.

Mabuza became chairman in January 2018 and was appointed along with other new board members, explains Financial Mail's Sikonathi Mantshantsha.

He told the commission last week that he had bought 6% of shares in Sphere Investment worth R26 million.

Sphere has shareholdings in boiler-serve contractor Babcock, which services a third of Eskom's coal power stations, Mantshantsha says.

Mabuza maintains that he has no direct input or involvement at Sphere Investment or Babcock.

He says that once he accepted the position of board chairperson, he declared all his interests and resigned as executive chair of Sphere.

He adds that his shares were also been put in a blind trust.

Mabuza said that he bought shares in a company called Sphere which serviced a third of Eskom's coal power stations.

Sikonathi Mantshantsha, deputy editor at the Financial Mail

Mabuza says he bought 6% of shares in Sphere for R6 million.

Sikonathi Mantshantsha, deputy editor at the Financial Mail

He says that after his appointment, he called Standard Bank to ask the Trust Division to manage his interest and put it into a blind trust.

Sikonathi Mantshantsha, deputy editor at the Financial Mail

Mantshantsha explains the significance of Mabuza's testimony before the Zondo inquiry.

Listen to the discussion on The Eusebius McKaiser Show:


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