ABB to pay R2.5bn in punitive reparations to SA for corrupt Eskom deal: The money will be used to improve South Africa’s ability to fight serious corruption
The National Prosecuting Authority announced on Thursday that its Investigating Directorate had finalised a settlement agreement with ABB.
The settlement “represents a bold and innovative step towards accountability and justice for alleged offenders, particularly in the form of restitution for the serious crimes committed at Eskom during the state capture period”, the statement said. It said the amount must be paid into South Africa’s criminal asset recovery account within 60 days from 1 December and is in addition to the R1.6 billion that ABB paid to Eskom in 2020.Subscribe to the M&G today for just R30 for the first three months* to gain access to this story and all our best journalism, subscriber-only newsletters, events and a weekly cryptic crossword.”
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