Eskom deceived SA Reserve Bank on R25bn Chinese loan, says senior company official

A woman carries firewood on her head as she walks below Eskom's electricity pylons in Soweto. Picture: REUTERS/Siphiwe Sibeko

Eskom Holdings gave the SA Reserve Bank incomplete and inaccurate information about the loan, meaning it was unable to make a properly informed decision on whether to give it the go-ahead, Sincedile Shweni, a corporate specialist at the utility’s treasury department, said at the judicial commission of inquiry in Johannesburg on Monday. Had the correct information been supplied, the deal would have fallen through, he said.

PaulivW They do know this loan will have to be paid back or as documented this is how China takes over a country. Or will they hold SA to ransom again w/load shedding when we decide not to pay. Any IMF/China loan is the worst kind of cancer it never ends well. Our_DA StephenGrootes

Reserve Bank can be deceived? Me thinks they were in on it

The names of the people involved and those who benefited must be named, payback and rot in jail. Now freebies for them, they must work in jail. SAns suffered because of their greed

Mara bathong

The liver! Defraud even the reserve bank, they have no limits!

PaulivW Hopefully Eskom will be running properly under Chinese ownership. 🙄

JAIL JAIL JAIL! Good heavens when will this shit end?

I don't think our Brics allies can do something like this

MakopoK There was never any deceit, thats how foreigners milk our country with the help of the stupid capitalist politicians

Break it up into 3 to 4 separate entities and get it privatised. HoldingSABack.

If all these senior treasury officials knew how wrong this deal are why are they still at Eskom? Can you imagine what else they are letting through or have let through while knowing it’s wrong....

Oh Lynne Brown is so gullible I mean who in their right mind contravenes the SARB act or policies? She might as well get ready to wear orange overalls

Eskom must to be liquidated

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

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

Reserve Bank was not alerted to ‘shell company’ concerns — Eskom official | News | National | M&GThe South African Reserve Bank was not privy to information that might have put the breaks on the controversial multibillion-rand loan from Huarong Energy Africa to Eskom, the state capture commission heard on Monday. Is misleading the SARB not a crime? Did you mean 'put the brakes on'?
Source: mailandguardian - 🏆 2. / 92 Read more »

Ratings agency revises Eskom outlook from negative to stable - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Credit ratings agency, Standard and Poor's, has revised their outlook on Eskom to stable from negative. This follows Finance Minister Tito Mboweni's announcement in his recent budget that Eskom would receive R23 billion per year for the next three years.
Source: SABC News Online - 🏆 32. / 51 Read more »