ESKOM HOLDINGS SOC LIMITED - Eskom action on McKinsey and Trillian

Eskom action on McKinsey and Trillian

ESKOM HOLDINGS SOC LTD

JSE CODE: BIESKM

06 October 2017

Eskom takes action to recover funds unlawfully paid to McKinsey and Trillian

Thursday, 05 October 2017: Eskom sought McKinsey and Trillian’s cooperation in
respectively returning R1-billion and R564-million which appears to have been unlawfully
paid out in 2016 and 2017.

The interim findings from Eskom investigations, into the circumstances surrounding
payments made to both the companies, point to certain decisions by Eskom, and
resultant payments, as being unlawful,

Eskom is obliged, pursuant to its statutory and common law duties, including the PFMA
(Public Finance Management Act) and the Companies Act, to seek to set aside these
unlawful decisions and to have all the money unlawfully paid out returned. Accordingly,
Eskom wrote to each explaining the action it would take and requesting their cooperation
in the matter.

Being such a critical entity, which is inextricably tied to the nation’s economy, it is in the
public interest to do everything we can as Eskom to claw back all the fees which were
unlawfully paid, while expediting the disciplinary processes currently underway



Eskom Holdings SOC Ltd enquiries
Francois Venter
011800 4050
Email: francoisj.venter@eskom.co.za

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