Ex-Trillian employee: My boss knew of Nene's axing before it happened

Msilo Mothepu said when Regiments offered her a job back in 2015, it gave her a blank cheque for her salary and Eric Wood told her they had acquired “blue-chip public-sector companies”.

FILE: Former Finance Minister Nhlanhla Nene arrives at the Zondo Commission of Inquiry into state capture on 3 October 2018. Picture: EWN

JOHANNESBURG - Former Trillian and Regiments employee Msilo Mothepu said her boss Eric Wood told her that Nhlanhla Nene would be fired because he didn’t support Regiment's proposals to raise capital for state-owned entities.

She said when Regiments offered her a job back in 2015, it gave her a blank cheque for her salary and Wood told her they had acquired “blue-chip public-sector companies”.

She believes Nene turned down the proposals because he knew they would attract high interest: “100 basis points is the fee that they wanted to earn if they raised R50 billion of hybrid capital.”

Nene was fired as finance minister on 9 December 2018 but Mothepu said her boss had told her in October of that year that Nene would be fired.

She said she also knew a month before Nene was fired that Mohamet Bobat would be the special advisor of the new finance minister who would be Des Van Rooyen.

Mothepu also testified at the state capture commission that the two companies told state-owned entities what to do even though the SOEs were the client.

Mothepu said Salim Essa was in charge of business development and ensured that the companies got business from SOEs, but he was also called to intervene if SOEs didn’t do as Regiments wanted.

“They tried to do what the service provider told them to do, which was a weird relationship, but they wanted a loan and if it didn’t happen, someone would call Salim and it would happen.”

WATCH LIVE: State Capture Inquiry: Commission hears Eskom related evidence, Ms Msilo Mothepu

Download the EWN app to your iOS or Android device.