Finance Minister Malusi Gigaba has admitted that links between state-owned enterprises (SOEs) and the Guptas has had a negative effect on how lenders and ratings agencies view the companies. Speaking to Talk Radio 702 on Friday‚ Gigaba said he and Public Enterprises Minister Lynne Brown had several discussions about the state of Eskom following the release of audit findings last week. On Wednesday, Eskom suspended its chief financial officer‚ Anoj Singh‚ on a precautionary basis‚ pending the outcome of a forensic investigation. The suspension followed an urgent intervention by Gigaba and Brown. "The issues being raised in the audit findings are serious and very grave. They are grave for the government. They are grave for how the investor community‚ especially the lenders and ratings agencies, and the public, view the governance of our state-owned entities. The minister herself has had several exchanges with the board of Eskom. The board took the right decision. We are standing in fu...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now