Brown to reveal new Eskom board late on Friday
Public Enterprises Minister Lynne Brown will reveal Eskom's new board on Friday.
Brown's spokesperson Colin Cruywagen said that the long-awaited announcement would be made by end of business on Friday.
Brown's original deadline, as determined by concerned financial institutions, was last week Thursday. But the deadline was pushed forward after last week's scheduled Cabinet briefing was moved to Wednesday. Cabinet has to approve the new board before Brown can make the announcement.
In July Finance Minister Malusi Gigaba gave an undertaking in his 14 confidence-boosting measures to kickstart the economy that Eskom would have a new board in place by November 30.
National Treasury deputy director general Anthony Julies also indicated earlier at a briefing of the mini budget that certain financial institutions had insisted that a new Eskom board be put in place by November 30, as a condition for rolling over existing loans.
Brown, who has been booked off sick, has been mum on whether the financial institutions have been engaged with about the delay, while Eskom also has not responded to questions about any interaction. Financial institutions contacted said they do not comment on client accounts.
It is widely expected that the minister will clean house, with many current board members getting the boot.
The Eskom board's reputation is at an all-time low after the parliamentary inquiry into state capture as several board members, including current chair Zethembe Khoza, were allegedly drawn into cloak and dagger dealings with the controversial Gupta family. Other members drew fire for not acting against the rot and turning a blind eye.
Khoza admitted to Parliament during the inquiry that the level of corporate governance at Eskom is very low.
The new board will have to hit the ground running in dealing with Eskom's liquidity challenges, plunging electricity sales and restoring trust in the eyes of the public.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation