Johannesburg, South Africa – 22 January 2018
The Black Management Forum (the BMF) welcomes the appointment of the new board of directors at Eskom as announced by the Deputy President Cyril Ramaphosa on Saturday, 20 January 2018.
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 has 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 pleads with the new board to scrutinise Eskom’s operational hurdles which if left unattended will most likely bankrupt the company.
Mthunzi says that 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 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.
About the Black Management Forum
The Black Management Forum (the BMF) has been in existence for 41 years. It is a non-racial, thought-leadership organisation with the main purpose of influencing socio-economic transformation in our country, in pursuit of socio-economic justice, fairness and equity. The BMF stands for the development and empowerment of managerial leadership and the creation of managerial structures and processes that reflect the demographics and values of the wider society.
For more information, please contact:
Black Management Forum
Head: Marketing & Communications
076 431 2899