Former Eskom company secretary Suzanne Daniels defends R1.68bn guarantee given to Gupta firm

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Former Eskom company secretary Suzanne Daniels has told the Zondo commission that the questionable R1.68bn guarantee granted to Gupta-owned Tegeta Exploration and Resources was a better deal for the power utility.

The board had authorised Eskom executives to negotiate a prepayment to Optimum Coal for the delivery of coal.Former Eskom company secretary Suzanne Daniels has told the Zondo commission that the questionable R1.68bn guarantee granted to Gupta-owned Tegeta Exploration and ResourcesDaniels was testifying at the commission on Friday afternoon, being quizzed by evidence leader advocate Pule Seleka on the legality of the deal.

At the time the newspaper reported that the guarantee had helped Tegeta Exploration and Resources to buy Optimum Coal in December 2015. “The issuing of a guarantee, as strange as it may seem, was actually a better risk mitigation factor for Eskom because ... imagine had we paid the money in cash over to the supplier, there would have been greater issues,” said Daniels.

 

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