Cash-strapped Eskom raises its fuel oil budget
Eskom had, at the time, entered into an agreement with Econ Oil to supply fuel oil to the value of R9 billion over the five-year period – half of the proposed total fuel oil budget of R18 billion. The former CEO believed Eskom should have been buying directly from refineries, such as Total, Engen and Sasol, to save on costs.
“We believe we’re being unjustly targeted by a system opposed to the success of a black-woman-owned energy company in a predominantly white industry,” says Mlonzi.According to investigations by Bowman’s, which is described as a ‘leading African law firm’, the company investigated Econ Oil and found links between the supplier and a key Eskom employee. But the report was never finalised or presented to the board because Eskom decided to halt the investigation in 2019.