If embattled but slowly stabilising Consolidated Infrastructure Group (CIG) were a soap opera it would be Days of our Lives. Just the storyline around government’s renewable energy programme phase 3.5 and 4 — worth R56bn, due to be signed two years ago — would have tested the creative talents of even the wildest scriptwriter. You’ve had the operational farce of Eskom in the period and the "will they or won’t they sign". The renewable energy contracts were finally signed by the energy minister at 5pm on April 4. How did a major player in energy infrastructure manage a business with all this going on?
CIG turned to Africa to generate business. Its key subsidiary, Conco, trumpeted its results for many years of its growing African expansion to counterbalance a weak SA. For years, Conco was a profit success, but as it got bigger and the business became more complicated, divisional management became complacent...
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