Alarming picture of close links between Eskom chief and Gupta firms, families
The state-capture report raises serious questions about the conduct of Eskom CEO Brian Moelefe and the Eskom board in relation to the Guptas and their companies
The state-capture report paints an alarming picture of close links between Eskom CEO Brian Molefe and some of the utility’s directors with the Gupta family and its companies. The report says the previous Eskom board of directors appeared to have been "improperly" appointed in a manner that was not in line with the spirit of the King III report on good corporate governance. At various times, board members seemed to have undeclared conflicts of interest. The conduct of the current board in its contracts with Gupta associated Tegeta Exploration and Resources also did not seem to comply with the Prevention and Combating of Corrupt Activities Act and the Public Finance Management Act (PFMA). The allegation of conflicts of interest have been dismissed by Eskom executives as having no bearing on key contracts awarded by Eskom, especially with Gupta-associated Tegeta. The report recommended investigating these contracts further. A conclusion is drawn that the board of Eskom — assigned by ca...
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