EDITORIAL: Lights are back on at Eskom
For the first time in a decade, the real challenge of fixing the business is on the table
Jabu Mabuza, in his signature Panama hat, has blown into Eskom like a warm berg wind bringing rain to the Cape. In 10 days, astonishing things have been done: five executives are out with another two on the way; R20bn has been raised from funders that have shunned Eskom since October 2017; and the real problem of Eskom — its debt mountain and solvency issues — have been placed squarely on the table. It made such a refreshing change from the obfuscation, lies and denial about the company’s true state of affairs by previous Eskom executives and chairmen that the air at Tuesday’s results session was almost celebratory. All we need now is for Public Enterprises Minister Lynne Brown — who on Tuesday had the temerity to tell a parliamentary committee it was time for boards of state-owned companies (which she appointed) to "shape up or ship out" — to be called to account for her part in all of this and we will be on our way to being able to close this horrible chapter. At the presentation,...
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