News / South Africa / State Capture

Makhosandile Zulu
1 minute read
5 Mar 2019
10:47 am

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

Makhosandile Zulu

The witness will also give testimony on the ash penalties on the Gupta-owned coal mine and a questionable Absa guarantee.

Thousands of trucks deliver coal each day to Eskom and to railway sidings for export. Photo: Katlego Phore/GroundUp

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.

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.

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.

Watch the proceedings live:

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