The former head of a construction company contracted by power utility Eskom is being extradited from Britain to face graft allegations.
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“He allegedly manipulated contracts. He was previously arrested, got bail and fled the country to the UK,” she said. The utility generates most of the country’s power from mainly coal-fired plants that regularly break down, causing blackouts since 2008. The blackouts have only eased since May. Here’s how much it will now cost to finance a R2 million bond following the South Africa Reserve Bank’s decision to cut the interest rate.
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