eoh

EOH faces blacklisting for tender fraud EOH is close to being blacklisted from doing business with the government, which will be a major blow to the company. Business Day reported that the possible blacklisting is “punishment for a tender fraud scandal that surfaced three years ago and...

EOH CEO under fire for spending millions on lawyers while firing staff and cutting salaries EOH CEO Stephen van Coller is under fire for spending millions on lawyers and consultants when employees were hit with salary cuts and retrenchments. This criticism followed news that EOH sued four of...

R6.4 billion lawsuit against former EOH CEO and three execs EOH is suing its founder and former CEO, Asher Bohbot and three other executives for a combined R6.4 billion for not dealing effectively with corruption at the company. TechCentral reported that EOH had filed civil claims against...

ANC's Zizi Kodwa received R1 million from EOH — and bought a Jeep State Security Deputy Minister and former ANC spokesperson Zizi Kodwa received an R1 million loan from former EOH executive Jehan Mackay. Kodwa used the money to buy an R890,000 Jeep, and to date, he has not paid back a single...

EOH paid ANC’s Zizi Kodwa for R50,000 per night luxury stays Evidence presented at the Zondo Commission alleges that State Security deputy minister and former ANC spokesperson Zizi Kodwa benefitted from suspicious EOH payments. Kodwa is currently the deputy minister of State Security, and...

Transformation group demands "racist" FNB close EOH bank accounts FNB must close the bank accounts of JSE-listed technology services company EOH due to its role in the procurement of overpriced contracts for the Department of Defence (DoD). This is one of the demands of pressure group...

EOH CEO Stephen van Coller has done an excellent job, it is time for management to believe EOH Group CEO Stephen van Coller has done a phenomenal job to turn the company around, but until its management starts to believe, the market won’t. This is the view of some of South Africa’s top...

EOH provides clarity on SIU media statement EOH has provided clarity on the events that led up to the signature of the Acknowledgement of Debt (AoD) related to its Department of Defence (DoD) contract. The Special Investigating Unit (SIU) this week provided details about its investigation into...

EOH revenue declines but profit improves EOH released its unaudited results for the six months to 31 January 2021 which showed an operating profit of R59 million – a big improvement over the R915 million loss in the prior period. The most striking figure in the results is a revenue decline of...

EOH CEO explains why staff take a salary hit while execs score millions Many EOH employees are angry. They have been told they will not receive their expected salary increases this month and that the issue will only be revisited in August. This salary freeze followed salary cuts last year...

New evidence reveals how EOH bankrolled the ANC Evidence presented at the Zondo Commission has shown how EOH paid millions to high-profile ANC politicians in donations and made irregular payments in exchange for lucrative tenders. EOH CEO Stephen Van Coller said their investigation into...

Corruption at EOH laid bare EOH paid R865 million to subcontractors where there is no evidence that work was done and there was a lot of inappropriate gifting, sponsorships, and donations. This was one of the pieces of information shared by EOH CEO Stephen Van Coller in his testimony at the...

EOH hit with R5-million fine for false financial reporting The JSE has imposed a R7.5-million fine on EOH, R2.5 million of which has been suspended for five years on condition that EOH does not breach the provisions of the JSE listing requirements. The remaining R5 million will be appropriated...

EOH's disposal of LSD - The numbers of the deal EOH recently announced that it was disposing of its stakes in two businesses - CSS and LSD. In the case of CSS, EOH's 30% stake in CCS will be sold to RIB Limited - which purchased the preceding 70% from EOH subsidiary EOH Mthombo in July 2019.

EOH CEO takes 25% salary cut EOH has released its interim results for the six months ended 31 January 2020, which showed that total revenue decreased by 21.8% to R6.35 billion. This decline is mainly a result of lower hardware and software sales, as well as legacy public sector ERP...

Drastic measures at EOH EOH CEO Stephen Van Coller has unveiled a list of stringent measures to dramatically cut costs and manage liquidity at the company. In a letter to staff, Van Coller said the unprecedented times they find themselves in requires the company to implement stringent actions...

EOH CEO responds to allegations from company executives EOH is not doing well. It has to address a big debt burden and is trying to rid itself of the image of a corrupt company - and this has to be done in a very tough economy. At the forefront of the company’s planned turnaround are a new...

Lebashe withholds investment in EOH Holdings EOH Holdings informed its shareholders in a statement on Friday that the company's black empowerment partner, Lebashe Investment Group, will not subscribe for a further R250-million tranche in the company. The amount was to be the final part of a...

EOH scandal - Corruption and BEE fronting allegations EOH is facing further allegations of questionable conduct, this time about BEE fronting and tender rigging relating to a R1.2-billion IT tender from the City of Joburg. The City Press reported that a politically-connected middleman claims...

EOH probe unearths serious corruption EOH Holdings has released the results of an investigation by ENSafrica into corruption at the company, stating that “evidence of serious governance failings and wrongdoing" was discovered at the company. The probe was requested by EOH CEO Stephen van...