South Africa’s power utility ESKOM is about to receive cash from various companies suspected of embezzlement. The new step involves $103 Million to be paid by the Zurich engineering group ABB. The amount is coming as a result of overpayments within the construction of coal-fired electricity plants. South Africa’s authorities are probing various companies believed to possess swindled funds from the facility utility Eskom.
Authorities also are pursuing 4 other companies in reference to various irregularities with the ESKOM
The company was included in numerous financial scandals. It was during the tenure of the previous president Jacob Zuma. The government estimates that quite 32.8b dollars were looted from the state, much of it from government firms while Zuma was in power.
Data source: Africa news
