South Africa: Koko’s dicey multi-billion Eskom deal

- in World News


E-mails lifted from disgraced former Eskom executive for generation Matshela Koko’s laptop show how he helped hatch a plan to sell off Eskom Finance Company’s loan book‚ valued at between R6-billion and R8-billion‚ to a finance house.

The e-mails show Koko was discussing financial initiatives with Regiments Capital employees‚ including Eric Wood‚ who would later leave to form the then Gupta-linked Trillian.

Koko’s documents show McKinsey and Regiments would earn 10% of the sale price of the loan book as commission. It is unclear why the plan did not go ahead.

EFC is a subsidiary of Eskom. Its mandate is to offer loans for employees for home finance and education‚ among others.

Information gleaned by forensic investigators from Bowman Gilfillan‚ which assisted Eskom in its prosecution of Koko‚ show that between December 5 and 7[tooltip id=”4500c2f113202943ff1ae30d00c9d4ac”] [/tooltip]2015 he received and commented on four versions of proposed initiatives from Regiments to unlock cash for Eskom and optimise its balance sheet.

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