It’s remarkable chutzpah of Eskom CEO Brian Molefe to describe Futuregrowth’s concerns about governance at state-owned companies as "frivolous". To do so with any conviction, Molefe would also have to argue that the concerns of ratings agency Moody’s were equally "frivolous" after the ratings agency last week followed the lead of Futuregrowth’s Andrew Canter in putting six state-owned institutions on review for a downgrade. "Sometimes to engage with people that do not have an intention of being constructive is a waste of time," he told journalists. It was classic Molefe. The former treasury official and Transnet CEO is, after all, a flamboyant dealmaker extraordinaire, never short of a word or two or a fair amount of bluster, especially when he’s under pressure. But the news this week that Futuregrowth has indeed begun lending again to one of those state-owned companies, the Land Bank, illustrates that Canter does indeed intend to be "constructive". All Futuregrowth wanted, which is...
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