BLSA confirms that it is holding high level discussions with Eskom’s Acting CEO, at Eskom’s request, regarding the serious allegations of corruption and state capture, which led to Eskom’s suspension from BLSA.

The first of these meetings was held on Friday 20th October between the BLSA CEO Mr. Bonang Mohale and the current Acting CEO of Eskom Mr. Sean Maritz.  These discussions are an indication that BLSA is open to working with Eskom (and other suspended members) to explore their commitment to addressing those governance and organisational failures that have resulted in activities that are legally or ethically questionable.

“Eskom’s suspension is in full force and effect, and will remain so until BLSA is satisfied that all the factors that led to the suspension are addressed fully,” said Mohale.  These include: transparent and thorough investigations into abuses; full disclosure of and cooperation with any investigations and prosecutions that may follow; and action taken against all individuals implicated in corrupt acts.

BLSA is of the view that dramatic change is needed at Eskom.  The entity is an important component of the South African economy and is systemically linked to SA’s fiscal stability.  BLSA believes, in the light of repeated and serious governance failures, that Eskom needs a complete new Board and management team comprising individuals who are not conflicted, have impeccable credentials, and who have a solid track record with relevant industry expertise. To this end we call on the Government and Minister of Public Enterprises to replace the entire Board and management of Eskom so that the turn-around of the utility’s operational integrity and the restoration of its balance sheet can begin urgently.

BLSA will continue to engage with Eskom, Government, and other suspended members with the view to continuing the fight against corruption and state capture.