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Motsepe says unbundling of Eskom will not benefit his firm

There have been claims that President Cyril Ramaphosa’s announcement on the utility would benefit Patrice Motsepe through the Energy Department.

FILE: Patrice Motsepe. Picture: Thomas Holder/EWN.

SANDTON - Chairperson and founder of African Rainbow Energy and Power Patrice Motsepe has denied allegations that the unbundling of Eskom will benefit his firm.

There have been claims that President Cyril Ramaphosa’s announcement on the utility would benefit Motsepe through the Energy Department.

Both the Energy Minister Jeff Radebe and Ramphosa are Motsepe’s in-laws.

African Rainbow Energy and Power says while it does have a stake in the equity of the Energy Department’s renewable energy independent power producer program, its share is less than 10%.

CEO Brian Dames said: “The total BEE equity value for all projects under the Department of Energies is R8.6 billion and the reps share is R800 million which is less than 10%.”

He says all the renewable energy independent power producer programs projects the firm is participating in were acquired from privately owned companies.

Motsepe says the company or any other organisation he is associated with will not participate in the sale or disposal of any entities or assets of Eskom.

LISTEN: Motsepe responds to Eskom allegations

Motsepe says perceptions of favouritism in terms of his contracts with the Energy Department which is headed by Radebe are justified.

The businessman said given his close proximity to power, he's tried not to do business with government.

“We have consciously avoided doing business with government; we don’t like doing business with government. Eskom is a monopoly and we have no choice but to engage. But, if you look at every single one of our businesses from the very beginning, over the last 30 years, we consciously avoided government because it has its own complications.”

(Edited by Mihlali Ntsabo)