OVERVIEW: Maritz has signed Huarong Deal without the approval of the Board – Eskom Treasurer at #StateCaptureInquiry

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2019-03-01 16:30

The judicial commission for arrest investigations heard statements by Eskom treasurer Andre Pillay regarding the Huarong deal and other operational matters during that time.

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Deputy Chief Justice Raymond Zondo

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#StateCapture: Eskom executive details on signing a Chinese R25bn loan

The state capture commission had learned Friday how Eskom's former Chief Financial Officer, Anoj Singh, was driving the process for an R25bn loan facility from China's Huarong Energy Africa.

Eskom CFO Andre Pillay said the company approached the utility in 2015 with an unsolicited offer.

An Eskom delegation had traveled to China to explore the offer further. The terms of the loan would, according to previous reports, include a cancellation fee of $ 30 million and a "signing fee" of R400 million.

It has already been reported that the terms of the disputed loan that Eskom renewed power plants also allowed Huarong to select and approve contractors. No agreement was reached on the first visit to China.

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#StateCapture: Eskom executive details on signing a Chinese R25bn loan

The state capture commission had learned Friday how Eskom's former Chief Financial Officer, Anoj Singh, was driving the process for an R25bn loan facility from China's Huarong Energy Africa.

Eskom CFO Andre Pillay said the company approached the utility in 2015 with an unsolicited offer.

An Eskom delegation had traveled to China to explore the offer further. The terms of the loan would, according to previous reports, include a cancellation fee of $ 30 million and a "signing fee" of R400 million.

It has already been reported that the terms of the disputed loan that Eskom renewed power plants also allowed Huarong to select and approve contractors. No agreement was reached on the first visit to China.

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Pillay: "Mr. Singh would sign this thing, no matter what I say …"

Pillay now tells Zondo about another incident involving Singh.

Pillay: "He arrived at the office and I was sitting in a meeting with outside people, he arrived at the office and handed me an envelope, his words to me:" Here's a love letter for you & # 39; .. "

Pillay: "I ended the meeting, but I was very curious what was in the letter, in the envelope, [and] In the envelope was the financial profile of one of my colleagues named Marius [surname unclear], I looked at it and went to his office to ask what the letter was like. His words to me were: "Tell him to go. You have to get rid of him & # 39 ;. And there was no basis … "

Pillay says it was somebody who called back then. And the instruction was, "You have to get rid of him". Pillay says it was out of the blue, but it was part of what they had seen in the organization – how people were forced to leave if they were unwilling to cooperate.

Pillay says Singh's attitude was basically, if you do not, they'll make somebody do it.

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Pillay: "Mr. Singh would sign this thing, no matter what I say …"

Pillay now tells Zondo about another incident involving Singh.

Pillay: "He arrived at the office and I was sitting in a meeting with outside people, he arrived at the office and handed me an envelope, his words to me:" Here's a love letter for you & # 39; .. "

Pillay: "I ended the meeting, but I was very curious what was in the letter, in the envelope, [and] In the envelope was the financial profile of one of my colleagues named Marius [surname unclear], I looked at it and went to his office to ask what this letter looks like. His words to me were: "Tell him to go. You have to get rid of him & # 39 ;. And there was no basis … "

Pillay says it was somebody who called back then. And the instruction was, "You have to get rid of him". Pillay says it was out of the blue, but it was part of what they had seen in the organization – how people were forced to leave if they were unwilling to cooperate.

Pillay says Singh's attitude was basically, if you do not, they'll make somebody do it.

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ICYMI:

ANALYSIS:

Manuel to Zuma's resignation – and how the Guptas took power

Trevor Manuel used rhetoric on Thursday that had died out in the executive of former President Jacob Zuma, and used language that has since largely disappeared from the civil service.

In his testimony before the commission of inquiry into alleged arrest of the state under Deputy Chief Justice Ray Zondo, the former Finance Minister said that he was faithful to the constitution, presidential oath and public officials. on "due diligence and attention to detail" in the management of public finances and secrecy in the appointment of a minister.

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ICYMI:

ANALYSIS:

Manuel to Zuma's resignation – and how the Guptas took power

Trevor Manuel used rhetoric on Thursday that had died out in the executive of former President Jacob Zuma, and used language that has since largely disappeared from the civil service.

In his testimony before the commission of inquiry into alleged arrest of the state under Deputy Chief Justice Ray Zondo, the former Finance Minister said that he was faithful to the constitution, presidential oath and public officials. on "due diligence and attention to detail" in the management of public finances and secrecy in the appointment of a minister.

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ICYMI:

Mbalula vowed to reinforce the truth in the uprising of the state

Fikile Mbalula has vowed to "strengthen the truth" by testifying before the state commission of inquiry.

"All that [former finance minister] Trevor Manuel said that the Electoral Officer is true about me, and it is up to me to go to the State Arrest Commission and to reinforce this truth and put it in context, "said Mbalula, the party's election leader.

Manuel testified before the Commission on Thursday and told Deputy Chief Justice Raymond Zondo that Mbalula had an emotional reaction during a meeting of the National Executive Committee (NEC) because of an interaction he had with one of the Gupta brothers. The Guptas are at the center of the conspiracy allegations.

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ICYMI:

Mbalula vowed to reinforce the truth in the uprising of the state

Fikile Mbalula has vowed to "strengthen the truth" by testifying before the state commission of inquiry.

"All that [former finance minister] Trevor Manuel said that the Electoral Officer is true about me, and it is up to me to go to the State Arrest Commission and to reinforce this truth and put it in context, "said Mbalula, the party's election leader.

Manuel testified before the Commission on Thursday and told Deputy Chief Justice Raymond Zondo that Mbalula had an emotional reaction during a meeting of the National Executive Committee (NEC) because of an interaction he had with one of the Gupta brothers. The Guptas are at the center of the conspiracy allegations.

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