A Deutsche Bank report that endorsed Eskom’s defence of its dealings with Gupta-linked companies was the work of an independent analyst and not the bank’s official position, the bank said on Sunday after Eskom welcomed the "support and backing" it had received from the bank. The Deutsche report followed the media briefing held by Eskom’s board on Friday to fight back against the former public protector’s State of Capture report, which details the special treatment Eskom gave to the Guptas’ coal company, Tegeta Resources. The report also detailed close links between Eskom CEO Brian Molefe and the Gupta family, and between several of the parastatal’s directors and the family. In a lengthy address, Eskom nonexecutive director Pat Naidoo, who chairs the board’s ethics committee, said Eskom disputed the public protector’s report. All transactions it entered into with Tegeta had a sound commercial rationale, no conflicts of interest were identified, all contracts were concluded in line wi...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.