STATE CAPTURE
Lynne Brown entrusts malfeasance probe to compromised board of Eskom
If the public protector’s State of Capture report served to highlight what appear to be possible criminal breaches of governance at board level in Eskom, then the GuptaLeaks e-mails and the report of the external auditors contained in the 2017 Eskom financial statements simply reaffirm these breaches. Unsurprisingly, the minister of public enterprises and the Eskom board have sat on their hands since former public protector Thuli Madonsela released her report in November 2016 and have largely ignored the widespread civic opprobrium of board malfeasance suggested in the GuptaLeaks. The gamebreaker was the qualified audit opinion included in the 2017 Eskom annual financial statements that resulted in a number of banks, in line with their own governance standards, threatening to withdraw credit facilities should action not be taken. The economic gun pointed at the Eskom board by the banks has certainly been the catalyst for the ministers of public enterprises and finance finally to fin...
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