Question NW468 to the Minister of Finance:†
03 May 2018 - NW468
Alberts, Mr ADW to ask the Minister of Finance:†
Whether he has found that the R5 billion loan awarded to Eskom by the Government Employees Pension Fund and the Public Investment Corporation meets all legal requirements; if not, (a) why not and (b) what are the relevant details of its implications; if so, (i) what legal requirements were to be complied with and (ii) in what respect was it complied with?
Reply:
The National Treasury is confident that in considering this transaction, the leadership of the PIC adhered to all its internal processes that should be complied with. Furthermore, the National Treasury is also assured that the approval of this transaction was made in accordance with the established mandate from the GEPF. It should be noted that the National Treasury was not involved in the engagements surrounding this transaction and therefore does not have all the details that were agreed upon. The National Treasury is aware that this is was a short-term facility and Eskom has already paid this facility by the end of the February 2018.