Categorized | Business

BMF welcomes new Eskom board

The Black Management Forum (the BMF) has welcomed the appointment of the new board of directors at Eskom as announced by the Deputy President Cyril Ramaphosa on Saturday, 20 January 2018.  It said Eskom is one of the key State-Owned Companies (SOCs) in South Africa and plays a major role in our society. It remains a critical entity to the people of South Africa, its employees and the capital market participants worldwide.

The South African government has an embedded responsibility in ensuring and promoting sound corporate governance; operational and financial stability at Eskom. The BMF also stated that it had faith in the new board at Eskom and supports its appointment. “We believe, as the BMF, that the effective governance at Eskom will encourage better operational and financial decision making, efficient use of the utility’s resources and strengthen accountability of all those charged with leading this strategic asset”, said Mncane Mthunzi, the President of the BMF.



Mthunzi pleaded with the new board to scrutinise Eskom’s operational hurdles which if left unattended will most likely bankrupt the company. Mthunzi also said the effectiveness of this new board will be tested by its ability to improve governance within the utility, strengthen management’s capabilities in driving the utility to navigate its current business challenges whilst delivering sustainable power solutions to help grow the economy.

The BMF said it believes, under the stewardship of Jabu Mabuza as the Chairman of the Board and a seasoned business leader, Phakamani Hadebe as the interim Chief Executive Officer who is a competent and capable leader, both supported by highly skilled members of the board with diverse experience and impeccable business credentials; that Eskom will be able to draw from this and steer the company towards a sustainable state of economic, financial and corrupt-free governance for the benefit of all its stakeholders.

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