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Eskom Holdings continued to pay Trillian Capital Partners even after McKinsey warned the utility that it had concerns over transparency at the project development partner.
Letters written in March 2016 by McKinsey to Eric Wood, the CEO of Trillian, and Eskom’s recently suspended chief financial officer, Anoj Singh, show the US consulting firm was concerned about the reputation risk of working with Trillian. McKinsey highlighted the lack of detail given by the company about its shareholders and potential conflicts of interest, the letters seen by Bloomberg show.
Eskom is at the centre of allegations that the Guptas used their relationship with President Jacob Zuma to win lucrative contracts from state companies. The family are business associates of businessman Salim Essa, who sold his stake in Trillian in July.
"McKinsey is uncomfortable about Trillian’s transparency on conflict issues," the US firm wrote in a March 30 2016, letter to Singh. "McKinsey has material concerns around re...
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