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Eskom corruption: Tenders worth R178 billion 'red-flagged' in a decade - News24

3 May 2021 6:24 PM
Tags:
Eskom
State Capture
Corruption
The Money Show
Special Investigations Unit
Bruce Whitfield
SIU
news24
Eskom corruption
Bowmans
Kyle Cowan
Corruption at Eskom

R178 billion of dodgy tenders at Eskom. Bruce Whitfield interviews Kyle Cowan (News24) and Bernard Hotz (Werkmans Attorneys).

Eskom gave tenders “red-flagged” for corruption worth R178 billion in the past decade, wrote Kyle Cowan, Sipho Masondo, and Azarrah Karrim in News24 on Monday.

That is enough to vaccinate South Africa’s entire population against Covid-19 20 times over.

It is also almost half of Eskom’s enormous R411 billion mountain of debt.

A candle (our "go-to" stock image for Eskom). © alekseitim/123rf.com

The information came to light after probes by law firm Bowmans and the Special Investigations Unit (SIU) that found a slush fund set up by senior executives into which contractors would pay a stolen fortune to fund luxurious lifestyles.

Corrupt tenders were even awarded for milk, tea, and toilet paper, at wildly inflated prices.

The Money Show’s Bruce Whitfield interviewed Cowan and Bernard Hotz, Head of Business Crimes & Investigations at Werkmans Attorneys.

This is just astounding! … It’s commercial terrorism! … There have to be civil and criminal consequences! … You have to fight nuclear battles with nuclear weapons! ... Take away ill-gotten gains! …

Bernard Hotz, Head of Business Crimes & Investigations - Werkmans Attorneys

This has happened with all the SOEs…

Bernard Hotz, Head of Business Crimes & Investigations - Werkmans Attorneys

These are complex commercial crimes… you have to investigate the minutiae… it’s a long process…

Bernard Hotz, Head of Business Crimes & Investigations - Werkmans Attorneys

We’ve got an inordinate amount of information… We spent months sifting through it… Eskom is a place where lots of corruption has happened… We’re talking about companies that made billions of rands…

Kyle Cowan, investigative reporter - News24

These files will contextualize that [accusations against Eskom CEO Andre de Ruyter] very nicely…

Kyle Cowan, investigative reporter - News24

Listen to the interview in the audio below.




3 May 2021 6:24 PM
Tags:
Eskom
State Capture
Corruption
The Money Show
Special Investigations Unit
Bruce Whitfield
SIU
news24
Eskom corruption
Bowmans
Kyle Cowan
Corruption at Eskom

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