• Rich man, poor man

    Culture change from below is the only way to overcome poverty, says Leopold Scholtz.

  • Tech bubble talk

    After the tech euphoria of 2013, the fast-moving sector has hit a speed bump.

  • Money creation made easy

    Changing the money creation system may be simpler than we think, says Edward Ingram.

Data provided by McGregor BFA
All data is delayed
See More

ANC 'involved' in Eskom tender

Feb 01 2008 13:48 Michael Hamlyn
Cape Town - The opposition Democratic Alliance is to ask public enterprises minister Alec Erwin why Eskom's tender procedures were flouted in a way that appeared to favour a bid from a company linked to the ANC itself.

Ian Davidson, the DA chief whip said on Friday that Chancellor House, said to be an ANC front company, had signed another extremely lucrative contract with Eskom, almost doubling the ANC's stake in Eskom's expansion programme. It "shows yet again that the ANC does neither understand nor care about the distinction between party and state", Davidson said.

"The ANC - through Chancellor House - already owns 25% of Hitachi Power Africa, giving it a R3bn stake in a R20bn Eskom tender to build its new power station, under construction in Limpopo," Davidson said.

"Preferential treatment"

"It has now been awarded a similar tender to build a power station in Mpumalanga, without the project going out on tender," he added. "This cements the perception that due to Hitachi Africa's direct links to the ANC, it is being given preferential treatment when it comes to the awarding of multibillion-rand tenders. This is precisely the kind of abuse that comes about when the governing party is involved in deals of this kind."

He said that it was little wonder then that the party was able to present surprisingly healthy financial results in December, when in it was able to use state resources for its own financial gain.

"This is the worst form of crony capitalism, which left unchecked will lead SA even further down the road to becoming a criminal state," Davidson concluded.

END - I-Net Bridge


Rich man, poor man

2014-04-24 07:28


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.

Cope loses members to ANC

President of the Cope Youth Movement, Abel Rangata, and three other Cope members have resigned from the party to join the ANC.


Latest elections multimedia

11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille
The EFF's ad was banned, see why
Why Jack Parow wants you to vote on 7 May

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...