We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Energy minister Jeff Radebe removed the SA Nuclear Energy Corporation (Necsa) board this week after “continued ineptitude and deliberate acts of defiance” which caused various setbacks and losses at the organisation. Briefing the media on Friday, Radebe said one such act of defiance was when Necsa board members signed a “so-called” memorandum of understanding (MOU) with Rusatom Healthcare (a subsidiary of Russia’s Rosatom nuclear corporation) after they were expressly instructed not to do so. Key to the decision to remove the Necsa board was that poor governance had led to issues at Necsa and subsidiaries, in particular NTP Radioisotopes. This subsidiary produces medical isotopes used in the treatment of cancer globally, but only recently started production after a year-long shutdown over a safety scare. Defiance from some members of the board affected the efficacy of the entire board “thereby seriously compromising its ability to collectively discharge its fiduciary duty”, Radebe s...

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 articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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