Eskom finance chief with Gupta links suspended

Eskom has suspended its chief financial officer, Anoj Singh, following an intervention by Finance Minister Malusi Gigaba and Public Enterprises Minister Lynne Brown.

TimesLive reports that Singh’s suspension comes after the Development Bank of South Africa (DBSA) threatened to recall its R15 billion loan from the power utility if no action was taken against Singh.

The power utility has confirmed Sing’s suspension and Calib Cassim has been appointed as the acting CFO.

“We would also like to assure all stakeholders that the company is stable as evidenced by the recent financial results, and will continue delivering on its turnaround strategy,” said Acting Chairman, Zethembe Khoza.

Brown said the board’s decision to grant Singh special leave would facilitate a probe into Eskom’s affairs.

“The board’s decision paves the way for the investigation to take place in a transparent way and ensure confidence in the process.

“I have urged the board to expedite the investigation and ensure that the company can concentrate on its core mandate.”

The minister has asked for the Special Investigating Unit to probe all allegations of impropriety surrounding Eskom that have surfaced in the past ten years

In recent weeks, the Sunday Times reported that Eskom closed the 2017 financial year with R20 billion in its bank accounts, something that had lenders worried.