Treasury completes probe of alleged corruption involving state firms Eskom, Transnet

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JOHANNESBURG (Reuters) – South Africa’s National Treasury has concluded its investigation of alleged corruption at state power utility Eskom and state logistics firm Transnet and will give the relevant parties two weeks to respond before making its findings public.

In a statement on Sunday the treasury said it had completed a draft report of its investigation into coal supply agreements between Eskom and Tegeta Exploration and Resources – a company owned by the Gupta business family.

The report also covers allegations of misconduct concerning state logistics firm Transnet’s purchase of over 1,000 trains from China South Rail.

A judicial inquiry into what has been termed “state capture” – widespread corruption involving billions of rands worth of state contracts is due to start next month. International companies affected include global consultancy McKinsey, Germany’s SAP and public relations giant Bell Pottinger.

“The report has been given to the relevant parties for comment. These parties have been given two weeks to respond,” the treasury said.

Its investigation of Eskom and Tegeta focused on the 2015 sale of Optimum Coal Mine by multinational resource giant Glencore to Tegeta.

 

 

 

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