De Ruyter confident Eskom can recoup some of looted R3.8bn

De Ruyter confident Eskom can recoup some of looted R3.8bn

Eskom CEO Andre de Ruyter says he’s confident the state-owned enterprise will be able to recover parts of the R3.8 billion lost through state capture. 

Andre De Ruyter

Last week, the embattled SOE and the Special Investigating Unit (SIU) filed papers at the High Court in Pretoria in a bid to recoup at least R3.8 billion from former Eskom executives and board members, as well as members of the Gupta family. 

The embattled power utility has faced off with former officials and the infamous Gupta family for the past several years after an explosive report uncovered mismanagement of funds by executives. 

“We are working with, amongst others, the Asset Forfeiture Unit as well as our own legal adviser to prepare anti-dissipation orders and that tries to prevent people from spending ill-gotten gains before we have recovered them,” De Ruyter told the Cape Town Press Club on Tuesday.


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But he admitted the SOE might still be at a slight loss. 

“I suspect a significant amount of money has already been spend but also on the hand we cannot afford to sit back.

“I think there’s also  a matter of principle that we have to pursue and I’m quite confident based on advise that we’ve received from our lawyers that we’ve got a good case and a strong case,” he added.

The 2016 report into alleged improper and unethical conduct at some state organs fingered former Eskom CEO Brian Molefe and the controversial Gupta family, as well as former CFO Anoj Singh and acting chief executive Matshela Koko. 

The name of former mineral resources minister Mosebenzi Zwane is also on the list. 

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