Eskom cut corners in race to approve Gupta-owned Tegeta deal, report reveals
State-owned power producer failed to follow due diligence, PwC finds
In its haste to award the Gupta-owned Tegeta Exploration and Resources lucrative coal supply contracts, Eskom failed to apply due diligence, including ensuring that its evaluation team was not conflicted when deliberating on deals involving Tegeta. Eskom also did not ensure that Tegeta was put through the power utility’s supplier development programme, a crucial step to ensure that companies doing business with the state-owned entity pass muster. These details are in a PricewaterhouseCoopers (PwC) report, which was commissioned by Eskom, reviewing its coal agreements with Tegeta and the Tshedza Mining Manungu, Keaton Mining Manungu and Universal Coal Kangala collieries. Tegeta’s Brakfontein Colliery and Brakfontein Colliery Extension were looked into. If you are already a subscriber, please click on the following link below to go to the full article: Eskom cut corners on Tegeta deal, says report If you would like to subscribe to BusinessLIVE Premium to read the full story, please c...
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