WATCH LIVE | Former Eskom company secretary Suzanne Daniels to testify at state capture inquiry

Starts at 2pm

16 March 2021 - 13:30 By TimesLIVE

The commission of inquiry into state capture will on Tuesday hear evidence related to Eskom from the power utility's former head of legal and company secretary Suzanne Daniels.

Daniels previously told the Zondo commission that the questionable R1.68bn guarantee granted to Gupta-owned Tegeta Exploration and Resources was a better deal for the power utility.

She said the alternative to the deal would have been a prepayment for coal to the same company for R1.68bn.

The Sunday Times first reported about the dodgy deal in 2017 after former CFO Anoj Singh, a known Gupta associate, was placed on special leave.

At the time the newspaper reported that the guarantee had helped Tegeta to buy Optimum Coal in December 2015.

The board had authorised Eskom executives to negotiate a prepayment to Optimum Coal for the delivery of coal.

“The issuing of a guarantee, as strange as it may seem, was actually a better risk mitigation factor for Eskom because ... imagine had we paid the money in cash over to the supplier, there would have been greater issues,” said Daniels.

She had supported the decision because it was a better option for Eskom to hold on to the cash at the time.

“We would have given 12 months of cash, actually,” she said.

TimesLIVE


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