State capture inquiry chairperson, deputy chief justice Raymond Zondo, on Wednesday expressed shock that Eskom's board in 2015 mistakenly approved a R1.6bn prepayment for coal supply to Gupta-owned Tegeta.
Zondo heard from former Eskom board member Prof Pat Naidoo how they approved the prepayment on December 9 2015, having been under the impression that it was for Glencore-owned Optimum Coal Mine (OCM).
But the submission to the board, which gave rise to the board approval, clearly stipulated that the prepayment would be for “proposed owners” of Optimum, Tegeta Exploration and Resources.
The commission chair said it was “troubling” that a whole board of 12 members was so incompetent that it would allow such a costly lapse in oversight.
WATCH LIVE | State capture inquiry hears Eskom-related evidence from Mark Pamensky
Image: VELI NHLAPO
The commission of inquiry into state capture, chaired by deputy chief justice Raymond Zondo, will on Thursday continue to hear Eskom-related evidence from former board member Mark Pamensky.
State capture inquiry chairperson, deputy chief justice Raymond Zondo, on Wednesday expressed shock that Eskom's board in 2015 mistakenly approved a R1.6bn prepayment for coal supply to Gupta-owned Tegeta.
Zondo heard from former Eskom board member Prof Pat Naidoo how they approved the prepayment on December 9 2015, having been under the impression that it was for Glencore-owned Optimum Coal Mine (OCM).
But the submission to the board, which gave rise to the board approval, clearly stipulated that the prepayment would be for “proposed owners” of Optimum, Tegeta Exploration and Resources.
The commission chair said it was “troubling” that a whole board of 12 members was so incompetent that it would allow such a costly lapse in oversight.
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