Breaking News, Business Politics, DA

Eskom should to take disciplinary action against Anoj Singh – DA

The official opposition party, Democratic Alliance (DA) says Eskom should consider taking disciplinary action against the Chief Financial Officer (CFO) Anoj Singh who is been badly implicated in the so-called the #GuptaLeaks

In a statement the party welcomed Eskom’s decision to take disciplinary action against former Acting CEO, Matshela Koko, for the R1 billion Impulse International nepotism scandal.

“Eskom’s Gupta-linked CFO, Anoj Singh, who should be immediately suspended and investigated for his involvement in the outrageous 72% discount Eskom gifted the Guptas to acquire Optimum.” said DA

“Singh’s ridiculous explanation as to why Eskom reduced the original R2.1 billion fine, to R577 million, simply won’t fly. Instead of being suspended and investigated, he has been rewarded with a bonus of R1.8 million for the year.

“Eskom executives cannot continue to protect the Guptas at the power utility’s expense any longer.

“The truth is, Eskom’s announcement of disciplinary action against Koko today, is simply a smokescreen to cover up the glaring financial troubles at the power utility.

According to DA, the power utility’s finances today showed some concerning figures:

  • R355.3 billion in debt securities and borrowing which is a 10% increase from 2016’s R322.6 billion,
  • Net profits plummeted by 82%, from R5 billion to less than R1 billion.

“It is evident that Singh is failing in his role as CFO, and the DA will now explore further avenues to bring Singh to book for his role in the deterioration of Eskom’s finances.

“As Eskom slips further into financial chaos, ordinary South Africans will have to bear the brunt.

“The DA looks forward to meeting Singh at the upcoming Parliamentary Inquiry into Eskom to ensure that he is held to account.”

 

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