Skip to content
Search

Latest Stories

Eskom sues Deloitte for alleged illegal contracts

SOUTH AFRICA’S Eskom is taking legal action against Deloitte Consulting for the recovery of funds amounting to £10.91 million.

The cash-strapped state power company alleges that the sum of £10.91m is related to improperly-awarded work during 2016.


Eskom has a debt of over £23.71 billion and is dependent on government bailouts to remain operational.

The African firm is facing a judicial inquiry into corruption in state entities. This is in addition to several other probes into mismanagement at Eskom.

Jabu Mabuza, company’s chairman, said in a statement on Monday (21) that his firm filed court papers against the consulting firm, to recover the funds linked to contracts it was awarded by former Eskom executives, accusing Deloitte of unfair practices.

"Information before us shows that Deloitte engaged in activities that were unfair, inequitable, non-transparent and uncompetitive, using off-the-record briefings with Eskom officials to submit proposals, and were granted contracts even though their pricing was way above their competitors," Mabuza said.

Eskom was urging the court to rule the operations relating to a group of tenders as "unlawful and unconstitutional, to set aside the awards, and for Deloitte to pay back the amounts paid to them".

Meanwhile, Deloitte disputed the allegations made by Eskom on Tuesday (22).

The probes were started after leaked documents in 2016 detailed relations between the wealthy Indian-origin Gupta family, former president Jacob Zuma, and deals signed with state companies such as Eskom and other multinational business giants.

The Gupta family and Zuma have repeatedly denied all the allegations.

The detailed investigations have resulted in the resignations and the firing of numerous executives in state-run firms in South Africa.

More For You

UK grocery inflation eases to 5 per cent in August

Britain’s food retailers have said that higher employer taxes and regulatory costs as well as increased staff wages are adding to inflationary pressure

iStock

UK grocery inflation eases to 5 per cent in August

British grocery inflation nudged down to stand at five per cent over the four weeks to 10 August, data from market researcher Worldpanel by Numerator showed on Tuesday (19), providing a little relief for consumers.

The figure, the most up-to-date snapshot of UK food inflation, compared with 5.2 per cent in last month’s report.

Keep ReadingShow less
SNEYD Launches Mobile App, Simplifying Cloud Mining for Global Cryptocurrency Investors

SNEYD Launches Mobile App, Simplifying Cloud Mining for Global Cryptocurrency Investors

As the global cryptocurrency market expands, UK-based cloud mining platform SNEYD has released a new mobile app that redefines how users participate in cryptocurrency mining. This launch provides a seamless experience for users looking to earn passive income from Bitcoin, Dogecoin, Litecoin, and other major digital assets—without requiring hardware or technical expertise.

As the global cryptocurrency market expands, UK-based cloud mining platform SNEYD has released its new mobile app, redefining how users can participate in cryptocurrency mining. This launch provides a seamless experience for users looking to earn passive income from Bitcoin, Dogecoin, Litecoin, and other

Keep ReadingShow less
Modi-Getty

In his Independence Day address, Modi said the goods and services tax (GST) would be reformed and rates lowered by Diwali, which falls in October. (Photo: Getty Images)

Getty images

India to slash consumption tax by October after Modi’s reform push

INDIA’s government will reduce consumption tax rates by October, a top official said on Friday, hours after prime minister Narendra Modi announced reforms to support the economy amid trade tensions with the United States.

The federal government is planning a two-rate structure of 5 per cent and 18 per cent, removing the existing 12 per cent and 28 per cent slabs, the official told Reuters, requesting anonymity as the plans are still under discussion.

Keep ReadingShow less
Morrisons CEO joins Gol Gappay eating contest to mark South Asian Heritage Month

CEO of Morrisons Rami Baitiéh (centre) takes on the Heera Foods Gol Gappay challenge

Morrisons CEO joins Gol Gappay eating contest to mark South Asian Heritage Month

Morrisons chief executive Rami Baitiéh took part in a lively “Gol Gappay Challenge” at the supermarket’s Bradford headquarters on Tuesday, as part of celebrations for South Asian Heritage Month.

The event, hosted in the company’s central atrium, was led by Bradford-based Heera Foods, which served up its popular Gol Gappay – crispy puris filled with spiced chickpeas and tangy water – to staff and visitors.

Keep ReadingShow less
Mounjaro

When Mounjaro was launched in Britain, Lilly set a list price 'significantly below' that in its other three European markets to avoid delays in NHS availability. (Photo: Reuters)

Lilly to raise UK Mounjaro price by 170 per cent from September

ELI LILLY said on Thursday it will increase the UK list price of its weight-loss drug Mounjaro by up to 170 per cent. The price change comes as the White House urges drugmakers to raise prices in Europe to enable price cuts in the United States.

The new price, which also applies to Lilly's type 2 diabetes medicine sold under the same name, will take effect in September. A month's supply of the highest dose will rise from £122 to £330, the company said.

Keep ReadingShow less