PARLIAMENTARY HEARING
Eskom board ‘cleaning up corruption and curbing costs’
Eskom is determined to rid the company of corruption and is investigating 239 matters disclosed via whistle-blowers, board member Nelisiwe Magubane told Parliament’s energy committee on Tuesday. Eskom’s new board, appointed two months ago, has also instituted lifestyle audits of all employees two levels below the group CE and has prohibited employees from doing business with the state-owned utility as it attempts to repair the damage caused by years of corruption and maladministration. This bid to strengthen corporate governance is critical if the parastatal is to win back the confidence of investors who were reluctant to buy Eskom bonds in 2017 because of its qualified audit and the lack of action against corruption. Eskom executives briefed the committee on the implications of the decision of the National Energy Regulator of SA (Nersa) to approve only a 5.23% tariff increase for the 2018-19 financial year. Magubane said the new Eskom board had spent the first two months inculcatin...
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