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Commenting on the developments concerning Eskom, BUSA says ─

At its meeting in Johannesburg today the BUSA Council expressed its deep concern at recent developments around Eskom. Apart from Eskom, BUSA’s concern also stems from its impression that a pattern of governance difficulties appears to have emerged in several other parastatals such as Transnet, SAA and the SABC. If not corrected soon, the cumulative impact on the economy could be serious. BUSA urges government to play a leadership role in helping to resolve these problems and to ensure compliance with good corporate governance practice.

BUSA therefore believes it is now necessary to restore confidence in the governance processes and structures of certain parastatals such as Eskom. In the recent WEF survey of global competitiveness among 133 countries the quality of SA’s electricity supply was ranked at only 100. BUSA believes that, unless the serious problems being experienced by some parastatals especially Eskom are speedily resolved, the risk exists that they will inhibit rather than encourage South Africa’s rapid recovery from the current recession.

BUSA remains willing to engage with government to assist in resolving the problems that have been identified regarding parastatals.

CELINE DE CANHA
Phone:      +27 11 463-9184
Mobile:      +27 82 926 8292
Fax:          +27 11 463-8432
Email:        This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Website:    www.siyenza.za.com

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