Eskom financial chief Singh admits Eskom backed Tegeta
Eskom previously denied assisting the Gupta family with the transaction
Eskom provided Gupta-owned Tegeta Resources another R1.6bn in guarantees, enabling it to purchase the operations of Optimum Holdings and forcing out global commodities trader Glencore. Eskom previously denied assisting the Gupta family with the transaction. Without external help, Tegeta would never have been able to pay the R2.7bn asking price. Anoj Singh, Eskom chief financial officer, admitted for the first time on Wednesday that he had personally signed a letter committing Eskom to guaranteeing and standing surety for R1.6bn on behalf of Tegeta in December 2015. "The guarantee was issued and cancelled, fortunately. The guarantee was contemplated and then put in place. It then expired. It was not utilised. There was a guarantee," Singh said. Sitting next to him, Zethembe Khoza — the current acting chairman and chairman of the board tender committee at the time — first claimed not to "recall the guarantee". When pressed for a decisive answer, Khoza said: "It is the first time I’m h...
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