ABB South Africa to pay back billions to Eskom

SABC News Eskom Rueters - ABB South Africa to pay back billions to Eskom

Eskom says the robotics firm ABB South Africa’s financial settlement is a continuation of a long series of the power utility’s recoveries including the recent R1.1 billion recovered from US-based consultancy McKinsey.

The R1.5 billion recovered from ABB South Africa through a contract which Eskom had irregularly awarded is expected to add only 2.5% to the reduction of the power utility’s huge debt.

During a virtual briefing on Friday, Eskom said an agreement had been reached between itself and the Special Investigating Unit and ABB South Africa.

Under the agreement, ABB will pay part of the R3.1 billion payment already made to the company.

“We have recovered R171 million from Deloitte Consulting. we are pursuing a claim of R95 million from PwC. We have recently launched a civil claim to recover R3.8 billion from members of the Gupta family other Gupta associates and that claim is making its way through the courts” explains Eskom CEO André de Ruyter.

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