Business Leadership South Africa (BLSA) has lifted its suspension of Eskom, reinstating the electricity utility’s full membership in the organisation.
Eskom’s membership was suspended in September 2017 in the wake of serious allegations of State capture and corruption.
“After careful consideration of all the actions that the new administration and the new board of Eskom have taken to address Eskom’s governance, capital structure and leadership challenges which have hobbled operational effectiveness of the largest utility in our country, BLSA has decided it is now appropriate to lift Eskom’s suspension,” said BLSA CEO Bonang Mohale.
The decision to lift Eskom’s suspension – taken by the BLSA board – is in recognition of the progress made by Eskom’s new board since its appointment.
As well as overseeing the exit of all the key problematic executives from the utility and taking credible disciplinary action against officials implicated in serious wrongdoing, the BLSA board’s decision was also informed by the appointment of Phakamani Hadebe as permanent CEO as part of the wider effort to restore governance at the utility.
BLSA said it looks forward to the appointment of a permanent CFO and COO at the utility.