Eskom needs to change tack to bring stability and growth
24 July 2018
The release of Eskom’s financials on Monday painted a dire picture of the state of affairs at the power utility. The new board, Chairman and CEO who have recently taken over the reins, need to show a radical shift in approach if they are to have any hope of turning the failing entity around. It can never be business as usual at Eskom.
The Minister of Public Enterprises, Pravin Gordhan, and Eskom executives need to stand firm and not waiver with a no-nonsense approach to Eskom. Currently, Eskom is bloated and inefficient. With over 48 000 employees, salary costs are spiralling out of control and becoming unsustainable.
An area which has contributed to the stagnation at Eskom is the lack of accountability for those who have been implicated in corruption. Eskom executives need to follow through with charges and disciplinary action, as well as reclaiming money from entities and individuals that have spirited away billions from Eskom through corruption and State Capture.
The DA has laid a number of charges against Eskom officials and related parties. These include: