Koko advised Eskom board to reverse approval of McKinsey engineers project
Former CEO Matshela Koko said that he would not forget this because he was on leave when the decision was made but the High Court erroneously said that he was responsible.
JOHANNESBURG - Former Eskom CEO Matshela Koko told the state capture inquiry that he advised the board to reverse a decision to approve the McKinsey top engineers project because it was not in line with Treasury directives.
He said that he would not forget this because he was on leave when the decision was made but the High Court erroneously said that he was responsible.
"And when you came back, you realised that this was in breach of not only the National Treasury instruction note but also of this directive of Eskom and you decided to bring this to the attention of Dr Ngubane?" Deputy Chief Justice Raymond Zondo asked.
To which Koko replied: "That's correct."
Koko said that he personally wanted to know why President Cyril Ramaphosa interfered in the affairs of Eskom even if the country did not want to know.
He said that R266 billion was lost due to load shedding after he was fired and Ramaphosa must explain his actions related to this.
WATCH: Ex-Eskom CEO Matshela Koko returns to state capture inquiry
Koko said he didn't know that former CFO Anoj Singh appointed Trillian to come up with a funding plan for the power utility.
He said he and Singh briefed McKinsey about the corporate plan and to his knowledge that was the only entity that was approached.
The commission has heard that Trillian was subcontracted by McKinsey — but at one point it wanted to be paid directly by Eskom.
“So the cost center that was used for the business plan would be Mr Singh’s cost center. He is the user, he decides the scope. He decides which professional he uses, who he approaches."