Companies under scrutiny for coining it with emergency fuel supply | City Press

  • 📰 City_Press
  • ⏱ Reading Time:
  • 51 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 72%

Business News News

Business Business Latest News,Business Business Headlines

Companies under scrutiny coining it with emergency fuel supply

City Press was reliably informed by senior Eskom officials that FFS Refiners had received the lion’s share of over R400 million of the R1 billion allocated by the national power producer for emergency fuel supply to its power stations. Photo: Supplied

Some companies, which failed to secure fuel supply tenders at Eskom, two of which are currently under investigation by the Competition Commission for alleged collusion, are allegedly now creaming it off the top and scoring hundreds of millions of rands in emergency fuel procurement contracts. This was confirmed by a current shareholder of FFS Refiners and founder of Kepu Trading, Mkhuseli Faku, whose companies scored R400 million and R80 million to date in emergency fuel procurement by Eskom in its desperate attempt to mitigate the worsening load shedding crisis that grips the country.

Faku told City Press in an interview that Eskom had approached both FFS Refiners and Kepu Trading to bid for the emergency supply of fuel by Eskom for its power stations, for which they both were awarded contracts.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 7. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Companies under scrutiny coining it with emergency fuel supply | City PressSome companies which failed to secure fuel supply tenders at Eskom, two of which are currently under investigation for alleged collusion by the Competition Commission, are allegedly now creaming it off the top and scoring hundreds of millions in rand emergency fuel procurement contracts. So it begins. Looters under the banner 'New Dawn' never disappoint. They don't have names? I can also supply eskom on emergency
Source: City_Press - 🏆 7. / 72 Read more »

Unions demand company to repay over R7.5 million allegedly siphoned from salaries | City PressTrade unions in the private security sector demand that iMmvula Group returns employees' medical fees that were allegedly unlawfully deducted from their salaries in the last 10 months Kanti why do people let employers get away with this shit? Why not pursue criminal charges of fraud and jail the unscrupulous capitalists that will do anything to be rich while they suffer? Who owns this company NUMSA may be conflicted here..it is a trade union and on the other hand, it has interest in Sizwe Medical Scheme and or its administration company!
Source: City_Press - 🏆 7. / 72 Read more »

Unions demand company repay over R7.5 million allegedly siphoned from salaries | City PressTrade unions in the private security sector demand that iMmvula Group returns employees' medical fees that were allegedly unlawfully deducted from their salaries in the last 10 months
Source: City_Press - 🏆 7. / 72 Read more »