July 29, 2018 / 11:14 AM / 17 days ago

South Africa's treasury completes probe of alleged corruption involving state firms Eskom, Transnet

JOHANNESBURG, July 29 (Reuters) - South Africa's National Treasury has concluded its investigation of alleged corruption at state power utility Eskom and state logistics firm Transnet and will give the relevant parties two weeks to respond before making its findings public. In a statement on Sunday the treasury said it had completed a draft report of its investigation into coal supply agreements between Eskom and Tegeta Exploration and Resources - a company owned by the Gupta business family which South Africa's corruption watchdog accuses of using its relationship with former president Jacob Zuma to wield influence and win government contracts.

The report also covers allegations of misconduct concerning state logistics firm Transnet's purchase of over 1,000 trains from China South Rail.

A judicial inquiry into what has been termed "state capture" - widespread corruption involving billions of rands worth of state contracts during Zuma's presidency - is due to start next month. International companies affected include global consultancy McKinsey, Germany's SAP and public relations giant Bell Pottinger.

"The report has been given to the relevant parties for comment. These parties have been given two weeks to respond," the treasury said.

Its investigation of Eskom and Tegeta focused on the 2015 sale of Optimum Coal Mine by multinational resource giant Glencore to Tegeta.

Zuma and the Guptas have denied wrongdoing. Reuters has not been able to independently verify the allegations.

Earlier in July Zuma's son, Duduzane, was arrested before being granted bail over allegations he took the former deputy finance minister to meeting in 2015 with the Guptas, who - according to the former deputy minister- then tried to bribe him ith 600 million rand ($45.58 million) in his presence.

$1 = 13.1643 rand Reporting by Mfuneko Toyana Editing by Raissa Kasolowsky

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