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Eskom and BLSA agree to work together going forward
Friday, 20 October 2017: The Eskom interim chief executive Sean Maritz and Business Leadership South Africa (BLSA) CEO Bonang Mohale met today and have agreed on a working relationship going forward.
“We had a robust and positive interaction with Mr Mohale this morning. Some of the issues he raised with us pertain to internal processes which are currently being addressed. And 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,” Maritz said.
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 also be accompanying Eskom 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. 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.”
ENDS