AYABONGA CAWE: ABB payment to SA shows depth of crises at state-owned enterprises
It is black rent-seeking firms, we are told, who are responsible for the failure to resolve maintenance challenges and inability to keep the lights on
The story of Swedish-Swiss engineering giant Asea Brown Boveri (ABB), being fined Sf4m (about R75m) by the Swedish attorney-general and volunteering to pay SA R2.5bn over a “dodgy” deal at Kusile, is a signal that there are many underlying stories to the procurement crises at our state-owned entities.
In a co-ordinated series of settlements, ABB has settled with authorities in Switzerland, Germany, SA and the US. These developments add to growing recognition that the damage being wrought by the Eskom crisis on the local and regional economy has as much to do with saboteurs stealing coal, diesel and spares as it has with exploitation by entrenched multinational firms...
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