Government to appoint new board for Eskom
Government will appoint a new board for power utility Eskom, Finance Minister Malusi Gigaba said on Wednesday.
Tabling the Medium Term Budget Policy Statement (MTBPS) in Parliament, Minister Gigaba said the new board will be appointed before the end of November 2017.
He said government is concerned at developments at the utility. The weak governance issues that are currently being experienced at the utility has led to a qualified audit opinion and a violation of some debt covenants with lenders.
“The failures of governance, leadership and financial management at Eskom are of a grave concern. Eskom is simply too important to the country to fail and we will not allow it to,” said the Minister.
A National Treasury team with the necessary expertise will work with the Department of Public Enterprises – under which Eskom falls – to address governance issues.