As SA's state-owned nuclear authority faces financial collapse, energy minister Gwede Mantashe has lambasted its board. He accused the directors of going over his head to President Cyril Ramaphosa.Mantashe accused the board of the Nuclear Energy Corporation of SA (Necsa) of talking to him "like a small boy", Business Times can reveal. The board has since resigned en masse.Mantashe's tirade came after the directors reported that the company was broke and, with a projected shortfall of R325m by March, would not be able to pay R60m in salaries to its 1,500 staff.Behind the drama lies a tale of neglect and mismanagement of a nuclear facility once considered a global player because of NTP Radioisotopes, which uses the Pelindaba reactor to produce nuclear medicine used in cancer treatment in a business that was once valued at nearly R800m a year.NTP was Necsa's money-spinner but shut down production for several months in 2018 after a deviation from safety procedures. Exper...

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 exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now