Zondo blasts ‘negligent’ former Eskom board over R1.68bn prepayment to Gupta entity

Failure by the 2015 Eskom board to interrogate the submission to authorise a R1.68-billion prepurchase payment to a Gupta-owned company cast doubt on the directors prudence, with State Capture Commission chairperson Deputy Chief Justice Raymond Zondo going as far as calling them negligent on Wednesday. The board had approved the transaction as part of a contract to secure continued coal supply by the Optimum Coal Mine, which was on the verge of changing hands. The mine, formerly owned by Glencore, was at the time in the throes financial ruin and undergoing business rescue. Tegeta Exploration and Resources, a Gupta-linked company, had been lining up to buy the mine.