WATCH: State capture inquiry witness to expose details on Eskom’s prepayment to Tegeta

The commission of inquiry is hearing testimony from Eskom employee Snehal Nagar on the prepayment Eskom agreed to pay Gupta-linked Tegeta of almost R600 million in advance for coal on the same day it became clear that the Gupta-affiliated company was short of that same sum to purchase the Optimum coal mine.

Nagar says when R659 million was paid to Tegeta, no good were delivered to Eskom. "This was a advance payment," says Nagar. #StateCaptureInquiry

— State Capture Commission (@StateCaptureCom) March 5, 2019

The commission’s evidence leader, advocate Philip Mokoena, said Nagar’s statement mentioned a number of people, and the person mainly implicated is a Miss Maya Naido who has been issued with a rule 3.3 notice.

Mokoena said Nagar’s testimony would also deal with the “extraordinary circumstance that led” to the prepayment to Tegeta, which includes a board meeting held at 9pm and how, following that meeting, Nagar and his team were pressured to make the payment by 2pm the next day.

Nagar’s testimony will also deal with the penalties imposed on Optimum Coal Mine and the “unique and bazaar” Absa guarantee in favour of Tegeta, Mokoena said.

Evidence leader Adv Mokoena SC says Nagar will also deal with ash penalties and Absa guarantee made in favor of Tegeta. #StateCaptureInquiry

— State Capture Commission (@StateCaptureCom) March 5, 2019

The evidence leader said reports by former public protector Thuli Madonsela, National Treasury, and forensic investigation firm Funduzi will be relied upon in today’s proceedings. These reports have been tabled before the commission.

Mr Snehal Nagar is employed by Eskom as Head of Finance in the Primary Energy division. He is a qualified Chartered Accountant.#StateCaptureInquiry

— State Capture Commission (@StateCaptureCom) March 5, 2019

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