Trillian ordered to pay back Eskom R600m

Gupta-linked financial advisory firm Trillian Capital has been instructed to pay Eskom R600m.

Last year, the power utility sued both Trillian and McKinsey for the repayment of almost R1.6bn alleged to have been unlawfully paid to them as a result of an invalid deal involving corruption and fraud.

READ: Eskom admits lying about Trillian and McKinsey payments

McKinsey has since paid back the R1bn it had received from Eskom.

While this is better late than never, energy expert Ted Blom says the money is only a drop in the ocean of what Eskom needs to claim back and return to the public.

I am shocked it has taken so long for this to happen.

Ted Blom, Energy expert

Eskom will burn through the R600m in two days, They spend more than R6bn a month just to keep themselves going in terms of capex and shortfalls on operational income.

Ted Blom, Energy expert

It is a windfall but I want to give it context. It is a drop in the ocean of what needs to come back... we are talking about R1.4-trillion that is owed to the public.

Ted Blom, Energy expert

This drop in the ocean stuff impresses some people but in reality it is not the full amount. We need to see substantive action by Eskom.

Ted Blom, Energy expert

Click on the link below to hear more from Blom....


This article first appeared on 702 : Trillian ordered to pay back Eskom R600m


Recommended

by NEWSROOM AI
Read More
How 19-year-old Musa Maluleka started his own business making soccer boots

How 19-year-old Musa Maluleka started his own business making soccer boots

The Disktjie boots are designed to withstand gravel pitches.

#ZondoCommission: Zuma's opening statement was a diversion - Jeremy Cronin

#ZondoCommission: Zuma's opening statement was a diversion - Jeremy Cronin

Cronin says South Africans should not get caught up in the spy claims but look to 'really unravel the state capture agenda'.

[LISTEN] Why more engineers are choosing to leave SA

[LISTEN] Why more engineers are choosing to leave SA

Joanne Joseph speaks to Consulting Engineers SA CEO Christopher Campbell.

Boikanyo Bug sets off to raise funds for lifesaving surgeries

Boikanyo Bug sets off to raise funds for lifesaving surgeries

The 1970s VW Beetle will travel for 14,500km from Cape Town to Romania for 125 cardiac surgeries.

SACP and Ahmed Kathrada Foundation throw their weight behind Gordhan

SACP and Ahmed Kathrada Foundation throw their weight behind Gordhan

The organisations held a joint press briefing on Thursday to raise concerns over what they say is an attack on whistle-blowers.

Thandi Modise demands that ministers be hands-on

Thandi Modise demands that ministers be hands-on

Eyewitness News reporter Gaye Davis says the Speaker has made it clear she is prepared to act against errant parliamentarians.

Popular articles
'Ramaphosa is an a spot of bother'

'Ramaphosa is an a spot of bother'

News24 editor-in-chief Adriaan Basson says the president's campaigners should never have asked Bosasa for a donation.

Mbube copywright: 'A lump sum of royalties would be paid to Linda family'

Mbube copywright: 'A lump sum of royalties would be paid to Linda family'

Spoor & Fisher consultant professor Owen Dean explains the outcome of the copyright infringement case against Disney.

[VIDEOS AND PHOTOS] SANDF troops finally roll into the Cape Flats

[VIDEOS AND PHOTOS] SANDF troops finally roll into the Cape Flats

Residents were out on the streets to watch the troops arriving in Manenberg and Hanover Park on Thursday afternoon.

[WATCH] Tour de France rider smashes into spectator's cellphone

[WATCH] Tour de France rider smashes into spectator's cellphone

Cycling journalist Mikkel Conde tweeted the clip warning spectators to stop leaning over the barriers with their phones.

You made a huge mistake downloading FaceApp if your privacy is important to you

You made a huge mistake downloading FaceApp if your privacy is important to you

Washington Post technology columnist Geoffrey A. Fowler did a forensic analysis of the Russia-based app. Check it out.

Beware 'dodgy' Nadal vs Federer ticket offers

Beware 'dodgy' Nadal vs Federer ticket offers

The Roger Federer Foundation says no ticket platforms are yet in possession of, nor have guaranteed allocation of tickets.

Shark attack: 'I saw a cloud of blood in the water'

Shark attack: 'I saw a cloud of blood in the water'

Joao Felizardo helped rescue his surfer buddy Dusty Phelan after a shark bit him across both his legs in Port Alfred.

'I should have told the Sunday Times the pot smoking was irrelevant'

'I should have told the Sunday Times the pot smoking was irrelevant'

Investigative journalist Jacques Pauw says he's sorry for any harm caused in his article on Mkhwebane and her principal witness.

3 emergency numbers you should have on speed dial and how they work

3 emergency numbers you should have on speed dial and how they work

These are the emergency numbers you should have on your cellphone and this is what you must understand about how they work.