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Brown names four new Eskom board members

The new appointments come during a turbulent period for the state power utility.

South African Public Enterprises Minister Lynne Brown named four interim members to the board of the embattled state-owned electricity company Eskom.

The appointees are Banothile Makhubela, Sathie Gounden, Pulane Molokwane and Simphiwe Dingaan, who still require cabinet approval, Brown told reporters in Johannesburg after Eskom’s annual general meeting.

The new appointments come during a turbulent period for Eskom. The ruling party forced the government to rescind Brian Molefe’s reappointment as chief executive officer after a graft ombudsman’s report and leaked emails indicated that he may have abused his position to the benefit of the Gupta family. Some of its members are friends with the president and in business with his son. Chairman Ben Ngubane was also implicated in the emails and resigned last week.

Molefe has challenged his dismissal. In answering court papers filed last week, Brown said she had lost confidence in the board. Parliament is investigating alleged irregularities at the utility that provides about 90 percent of the country’s power, with the inquiry due to start in early August. Johnny Dladla was appointed acting CEO Thursday.

Directors’ profiles

Makhubela has a doctorate in chemistry. She served on the board of state-owned oil company PetroSA from 2015 until this year. The company has reported years of losses while paying bonuses to executives.

Molokwane is a nuclear physicist and in 2015 was appointed a member of the National Planning Commission, which developed the government’s economic blueprint. President Jacob Zuma wants the country to pursue a nuclear-power expansion plan, which has been criticized by opposition parties for being unnecessary and unaffordable.

Gounden, a chartered accountant, is a past president of the Association for the Advancement of Black Accountants of Southern Africa. He served on the board of the South African Post Office from 2014 to 2015, when the government fired the board and appointed a new chairman to turn around the lossmaking organization.
© 2017 Bloomberg L.P

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Best news for the week.

The dark clouds seem to be moving away from Eskom.

Maybe with new management South Africans will afford electricity prices again, the economy and the tax payer stands a chance to survive.

End of comments.





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