Klein recalls how suspension of execs was followed by Eskom downgrade

The Eskom downgrade around 2015 was a result of fired Eskom board members, former Eskom board member Venete Klein told the commission.

In 2016, Eskom received reprieve from Moody’s which had placed the utility on review for downgrade, in September. This was followed by rating agency S&P Global ratings downgrading Eskom from BB+ to BB, an apparent negative outlook. Moody’s review came amid the resignation of an Eskom CEO.

The commission of inquiry into state capture heard how the suspension of three executives was a result of former Eskom Chairperson Zola Tsotsi’s suggestion.

It was during Tsotsi’s testimony this week that the names of Eskom CEO Tshidiso Matona, Matshela Koko and Dan Marokane were mentioned for suspension at the time, for an inquiry into Eskom to continue unhampered.

The suspension of the executives would not be difficult, Tsotsi said, as it would be clearly highlighted that they were not accused of wrongdoing, but were asked to allow space for the inquiry.

Tsotsi also mentioned how former SA Airways chairperson Dudu Myeni requested him to go to a meeting where the suspension of the executives was discussed.

In the commission, Klein corroborated knowledge of the suspensions and remembered how it was Koko who expressed his interest to not leave the employ of Eskom. She said Koko expressed that he wanted his job back.

There was no evidence that the executives would interfere with investigations of the inquiry, Klein said, but noted that she had acknowledged the suspension of the executives.

The executives were then told they would not be charged but their presence would hinder investigations.

The former Eskom board member also touched on how settlement figures with the executives were later allegedly provided by Anton Minaar, the then executive support manager.

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