On Wednesday, Chairman of state-run power company Eskom, Ben Ngubane, confirmed that the findings of a three-month investigation, which was commissioned by the Eskom Board in March 2015, has found no wrongdoings against the suspended executives.
The three suspended executives include Tsholofelo Molefe (Finance Director), Dan Marokane (Group Capital) and Matshela Koko (Commercial and Technology). Since the announcement, Molefe and Marokane have parted ways with Eskom on an amicable basis.
Eskom’s independent enquiry
In March, the Eskom Board commissioned an independent enquiry on the organisation and its challenges at that time. In addition, the Board felt the need to extend the investigation to include:
- Delays in bringing the new generation plant on-stream
- The poor performance of generation plant
- High costs of primary energy
- Cash flow challenges
Former Eskom chairman Zola Tsotsi said: “To ensure that this process is as transparent and uninhibited as possible, the Board has also resolved that four of its senior executives, including the Chief Executive, should step down for the duration of this enquiry”.
Shortly after this statement was made Tsotsi was in the spotlight where he had to defend himself against the allegations of “misconduct involving dishonesty”. His defence was accepted by the Board and the mutual decision for Tsotsi to step down was made.
Return to work
The utility commented: “There is no longer a reason to keep the remaining executive on suspension and he [Matshela Koko] will return to work with immediate effect.”
Eskom concluded that the investigative report is being finalised and will be shared with the shareholder in due course. Its recommendations will be used to strengthen the current turnaround strategy being implemented by the organisation.