Judge Raymond Zondo has heard how an unsolicited proposal for a 'financing solution' came with a commitment fee of about R400m and stiff penalty clauses. The inquiry into state capture heard that the deal was 'covered in the fingerprints of Anoj Singh', the utility’s former finance boss.Eskom treasurer Andre Pillay described to the state capture inquiry on Friday how the utility entered into a dodgy billion-dollar loan agreement with Chinese-based business Huarong Energy Africa.
Pillay told deputy chief justice Raymond Zondo, who is heading the commission, that in 2015 his office was approached by a consortium consisting of Tribus Capital and Huarong. Later, in June 2016, the cash-strapped utility received a formal unsolicited proposal from Huarong for a"financing solution" to build or refurbish its power stations.The contract outlined the $2bn loan Eskom would receive, but it had caveats.
Lot's of holes in Pillay's testimony that were not highlighted. His involvement was more than he tried to pass off. He got off lightly
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