Statement on measures to strengthen governance at Eskom
20 January 2018
Government today announces a number of measures to strengthen governance at Eskom, including the appointment of new board members and stabilising management at the energy parastatal.
This follows a meeting of President Jacob Zuma, Deputy President Cyril Ramaphosa, Public Enterprises Minister Lynne Brown and Minister of Finance Malusi Gigaba on Friday 19 January 2018 to address urgent challenges at the company. This intervention will be ratified by Cabinet at its next meeting.
Eskom is critical to the South African economy. As a key enabler of economic growth and social transformation, any further deterioration of Eskom’s financial and operational conditions could have a severe impact on the country.
The company has been facing several challenges, including a weak financial position, declining revenues and governance failures, which are threatening the sustainability of the company going forward.