WATCH LIVE | Eskom chair Jabu Mabuza in hot seat at state capture inquiry
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Eskom board chairman Jabu Mabuza continues his testimony to the state capture inquiry on Monday morning.
On Friday Mabuza described the state he found Eskom in when his board was appointed. He said funders had "drawn a line in the ground" and would not provide more cash to the previous administration.
"When we took office, as I got to know later ... the last money Eskom could find from the market was in July 2017. Funders had drawn a line in the ground. They said 'we are not putting one cent more here under this current leadership at Eskom'," he said.
"This is an organisation whose survival is so systemic in the socio-economic fabric of our society… There was a lot of graft, a lot of malfeasance. It was the main theatre where corruption and state capture were taking place.
The morale was low, people were not too proud to be associated with this organisation."
Mabuza told the inquiry that corruption at the power supplier manifested itself within the procurement processes.
The Sunday Times reported on the weekend that shocking new figures show the construction of Eskom's Medupi, Kusile and Ingula power plants prompted an orgy of looting, with 11 contractors now under investigation for stealing a staggering R139bn.
The cost of the looting, together with losses due to state capture, could reach a total of R500bn that has disappeared from the crippled power utility since 2005, two sources close to the investigation said.
The Special Investigating Unit is probing the theft of R170bn from Eskom - R139bn of which is directly related to contractors working on the power plants.