Koko faces disciplinary action over R1bn contracts

Cape Town - Former acting Eskom CEO Matshela Koko will face disciplinary action, relating to tenders awarded to Impulse International while his stepdaughter was a director at the firm.

“The board has taken a decision to pursue disciplinary action against Mr Koko," said Eskom board chairperson Zethembe Khoza at Eskom's financial results presentation in Johannesburg on Wednesday.

He added that the minister of public enterprises is aware of the decision.

FOLLOW Fin24's live blog

Eskom's external auditors, SizweNtsalubaGobodo, reported the state utility to the Independent Regulatory Board of Auditors earlier this month, postponing its original financial results announcement.

Eskom spokesperson Khulu Phasiwe confirmed that one issue related to Koko and the other to former CEO Brian Molefe.

Koko, who is head of generation at Eskom, was relieved of his acting chief executive duties when Brian Molefe returned briefly in May. He was then placed on leave pending an investigation by Cliffe Dekker Hofmeyr after concerns were raised about an apparent conflict of interest.

The investigation followed a report in the Sunday Times on 26 March 2017, which revealed that Koko’s stepdaughter, Koketso Choma, was a director at Impulse International when it netted at least R1bn in contracts from Eskom in just 11 months.

Choma, who was appointed as a director at Impulse three years after graduating, lives in the same house as Koko.

That report has not been made public yet, but Fin24 understands Eskom has met with investigators in preparation for steps against Koko.

SUBSCRIBE FOR FREE UPDATE: Get Fin24's top morning business news and opinions in your inbox.

Read Fin24's top stories trending on Twitter:


ZAR/USD
16.67
(+0.82)
ZAR/GBP
21.06
(+0.74)
ZAR/EUR
18.94
(+0.33)
ZAR/AUD
11.65
(+0.26)
ZAR/JPY
0.16
(+1.09)
Gold
1802.63
(+0.16)
Silver
19.07
(+1.69)
Platinum
838.00
(+1.76)
Brent Crude
43.03
(0.00)
Palladium
2042.50
(+4.18)
All Share
56240.47
(+1.48)
Top 40
51924.44
(+1.51)
Financial 15
10698.99
(+2.16)
Industrial 25
76817.46
(+0.90)
Resource 10
53545.82
(+2.02)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
I'm not really directly affected
18% - 1995 votes
I am taking a hit, but should be able to recover in the next year
23% - 2606 votes
My finances have been devastated
35% - 3904 votes
It's still too early to know what the full effect will be
25% - 2800 votes
Vote