EOH agrees to pay back R191m to Water and Sanitation Dept
The Special Investigating Unit (SIU), and the Department of Water and Sanitation (DWS) have signed a settlement agreement with EOH, a JSE listed IT company, to pay back some R191 million.
The agreement comes after the company irregularly received the money from its dealings with the department between 2012 and 2017.
The Information Technology giant will have to pay back R191 million over a period of 36 months after the SIU’s investigations found that EOH unduly benefitted from its contracts with the department.
SIU spokesperson Kaizer Kganyago says an upfront payment of R65 million should be paid by 30 November 2022.
"While the first instalment of R3.4 million is to be paid on 1 January 2023, and thereafter on the first business day of each succeeding calendar month until the debt is fully settled.
"The SIU was also contacted by EOH with the purpose of informing the Unit of possible fraud and corruption involving employees of its subsidiary, EOH Mthombo, and third parties who allegedly colluded with officials of DWS in relation to contracts that EOH had concluded with DWS."
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