The South African Government has announced a number of measures to strengthen governance at Eskom, including the appointment of new board members and stabilising management at the energy parastatal.
This follows a meeting of President Jacob Zuma, Deputy President Cyril Ramaphosa, Public Enterprises Minister Lynne Brown and Minister of Finance Malusi Gigaba on Friday 19 January 2018 to address urgent challenges at the company. This intervention will be ratified by Cabinet at its next meeting.
Eskom is critical to the South African economy. As a key enabler of economic growth and social transformation, any further deterioration of Eskom’s financial and operational conditions could have a severe impact on the country.
The company has been facing several challenges, including a weak financial position, declining revenues and governance failures, which are threatening the sustainability of the company going forward.
“As a result, government has decided on the following immediate measures to strengthen governance and management.
This is the first step towards restoring confidence in the company, improving its financial position and restoring its operational performance,” said Deputy President Cyril Ramaphosa.
The appointment of new board members:
The new board will consist of:
1. Mr Jabu Mabuza as Chairperson
2. Mr Sifiso Dabengwa
3. Ms Sindi Mabaso-Koyana
4. Mr Mark Lamberti
5. Prof Tshepo Mongalo
6. Prof Malegapuru Makgoba
7. Ms Busisiwe Mavuso
8. Ms Nelisiwe Magubane
9. Dr Rod Crompton
10. Mr George Sebulela
11. Dr Pulane Molokwane
12. Dr Banothile Makhubela
13. Ms Jacky Molisane
Government has recommended the appointment of Mr Phakamani Hadebe as the Acting Group Chief Executive with immediate effect.
Further, the board is directed to appoint a permanent Group Chief Executive and Group Chief Financial Officer within the next three months.
The board is directed to immediately remove all Eskom executives who are facing allegations of serious corruption and other acts of impropriety, including Mr Matshela Koko and Mr Anoj Singh.