Jeff Radebe is determined to boot out Necsa board
Minister makes damning allegations in court papers about the board and CEO
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...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.