In South Africa, the Eskom interim chief executive Sean Maritz and Business Leadership South Africa (BLSA) CEO Bonang Mohale met last week and have agreed on a working relationship going forward.
Addressing the topic of internal corruption and maladministration, Maritz said: “Eskom is committed to deal with corruption and maladministration. If corrupt activities are found in relation to Eskom staff or contractors, we will take appropriate action.” Read more…
He added that he had a positive discussion with Mohale where he drew attention to issues around internal processes, which are currently being addressed. Read more…
BLSA offers support
Maritz reiterated that the executive management team remains focused on its five priority initiatives of increasing demand for electricity; reducing primary energy costs; implementing advance analytics to deliver savings; releasing government guarantees; and ensuring the completion of the new build programme.
The BLSA will accompany the utility to the JSE SA Tomorrow investor conference, which is taking place in New York, USA on 9 and 10 November 2017, to garner investor support and trust for the company.
“The purpose of the planned engagement is rebuilding trust with financial markets stakeholders. It is critical that Eskom takes investors into their confidence and provide meaningful and transparent information.
“This will also aid increased market participation in Eskom’s funding plans, including the international bond issuance,” Maritz said.
Mohale said: “Business believes in this country’s future and wants to play its part in creating a South Africa of increasing prosperity for all.”
He added: “It is perfectly legitimate for business to use its voice loudly as it has always been, and will always be, heavily invested in the continuance and success of this democracy.
“When business does well, society generally does well. BLSA is committed to work with its members to ensure that Corporate Governance is adhered to and that our members conduct themselves in accordance with the Integrity Pledge.”
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