December 11th, the South African government announced that the South African National Electric Power Company (Eskom) and the South African Special Investigation Agency (SIU) have reached an agreement with the Swedish Swiss ABB Group that the Swedish Swiss ABB Group will reimburse the additional 15.6 collected by the Kusile power station project in the country due to corruption. Billion rand
In 2015, South African National Electric Power Company and Sweden Switzerland ABB Group signed an agreement in the Kusile power plant project in the country and paid R2.2 billion in the contract to Sweden and Switzerland ABB Group.
After investigation, it was found that some officials of the South African National Electric Company at that time used illegal and fraudulent means to induce the company to pay a large amount of money far beyond the actual contract amount to the Swedish and Swiss ABB Group.
In order to avoid lengthy and lengthy litigation, ABB Group in Sweden said it would return R1.56 billion collected for corruption. The non-state power company (Eskom) and the South African Special Investigation Agency (SIU) found the amount of return fair and therefore withdrew the subsequent legal action.
South Africa’s National Electricity Corporation (Eskom), the top 10 state-owned enterprises in South Africa, has been plagued by corruption scandals in recent years.
The company often loses power due to the lack of operating funds, causing huge losses to the South African economy.
After Ramaphosa was elected President of South Africa, in February 2019, the State of the Union Address of South Africa repeatedly mentioned that the South African National Electric Power Company needed to break down and stand up, and then reorganized the management of the company.