Public Protector allegedly probing Eskom energy deals

South Africa's Public Protector is investigating Eskom's deals with 27 independent power producers, Independent Online reports, citing a leaked document.

The probe into the state-owned utility's award of electricity production licenses to privately owned companies was started after a complaint, the publication reported, citing a letter from Public Protector Busisiwe Mkhwebane to the utility's chair, Jabu Mabuza.

Public Protector spokesperson Oupa Segalwe said he couldn't immediately comment. The complaint maintains that Eskom's contracts to buy electricity from so-called independent power producers were tainted by corruption and that unidentified senior executives came under political pressure to agree to the terms.

The contracts saddle the debt-laden utility with an estimated yearly loss of R21bn, or an estimated R1.4trn over the next 20 years, the online publication said.

ZAR/USD
17.61
(-1.17)
ZAR/GBP
22.98
(-0.39)
ZAR/EUR
20.75
(-0.27)
ZAR/AUD
12.59
(+0.08)
ZAR/JPY
0.17
(-0.72)
Gold
2032.69
(-1.76)
Silver
28.06
(-5.72)
Platinum
959.23
(-3.92)
Brent Crude
45.10
(-0.18)
Palladium
2147.00
(-3.11)
All Share
56757.73
(-1.56)
Top 40
52435.65
(-1.72)
Financial 15
9897.96
(+0.10)
Industrial 25
74671.49
(-1.98)
Resource 10
58948.78
(-1.89)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 926 votes
It depends on how the funds are used.
74% - 6216 votes
No. We should have gotten the loan elsewhere.
15% - 1277 votes
Vote