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Eskom's Singh penned secret R400m deal with obscure entity - report

The 'Business Day' newspaper is reporting that the shady agreement was in return for the entity securing a R25 billion loan from China to build or refurbish power stations.

FILE: Anoj Singh. Picture: EWN

JOHANNESBURG - It is being reported that Eskom's suspended chief financial officer Anoj Singh signed a secret deal binding the cash-strapped parastatal to forking out a R400 million "signature fee" to an obsure offshore entity.

The Business Day newspaper is reporting that the shady agreement was in return for the entity securing a R25 billion loan from China to build or refurbish power stations.

A paper trail allegedly suggests that officials in Eskom's legal and finance divisions suspected that the fee might be a disguised kickback.

Singh reportedly ignored legal advice from officials who warned that the terms of the 2017 transaction were onerous and ambigiuous "at best".