Former Eskom CEO Maritz signed a long term billion rand facility agreement with China

 

More damning information has surfaced of how former Eskom interim CEO signed a long-term agreement with a Chinese consortium.

Speaking at the panel, the Zondo commission has heard how former Eskom interim CEO Sean Maritz signed a controversial long-term billion rand facility agreement with a Chinese consortium even after Eskom board expressed reservations about the deal.

The deal was part of an R25 billion loan that Eskom would receive from Hourang Energy Africa, a Chinese and South African consortium.
The money was meant to enable Eskom to maintain its powers stations.

Eskom treasurer Andre Frank Pillay told the commission that Maritz signed the deal even though the Eskom board had expressed reservation about the deal. Pillay said Maritz signed it on the same day that the board had expressed its unease, and said he had received approval from the public enterprise’s minister Lynne Brown.

“Maritz returned from Cape Town and said he was prepared to sign. He had sent an email to the CFO asking why we were not signing the deal. He then signed a long-term facility and not a short-term facility.

“The $19.2 million was immediately payable. This was the contentious part of this deal. I had indicated to them that as a state-owned entity we cannot pay even before seeing anything,” said Pillay.

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