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 says his decision to disband the SA Nuclear Energy Corporation (Necsa) board was not rash but followed a litany of governance issues at the state-owned entity, court papers show. In an affidavit signed on January 4, Radebe detailed how four memos, dating back to June 2018, alerted him to serious issues relating to the Necsa CEO, the board and its chair. These informed his decision to replace the Necsa board in early December. Radebe’s submission sets out a raft of allegations. For one, the Necsa board has been remunerating itself “at rates that are far in excess of the approved rate” and in a draft annual report it had also failed to declare bonuses and the CEO’s remuneration for the year, according to his affidavit. The board also appointed external experts to committees without consulting the minister, and outsourced the function of company secretary which in effect granted third parties access to “top secret state information”. Radebe's affidavit is in...

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