Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

Hogan: Zuma move caused delay

Nov 15 2009 10:07

Related Articles

Eskom to change tariff bid

We want Godsell at Eskom - Hogan

Hogan defends independent boards

 

Top Stories

Gauteng road project costs rocket

May 25 2012 13:58

The costs of the first phase of the Gauteng Freeway Improvement Project have increased significantly to almost R90bn, according to a report.

Greek euro worries pressures rand

May 25 2012 19:13

Uncertainty over the future of the euro zone returned to push the rand down against the dollar.

Absa online banking crashes, down all morning

May 25 2012 17:09

Clients hoping to cash in their end of month paychecks at Absa received a nasty surprise after the online banking system fell over.

 
Share Share line Print

Johannesburg - Public Enterprises minister Barbara Hogan has said that while president Jacob Zuma's intervention in the Eskom saga was helpful, it did delay processes, the Sunday Times reported.

Hogan is quoted in the Sunday newspaper as saying that while President Jacob Zuma's intervention in the dispute was "helpful it did stall the process."

Hogan added that Zuma "spoke to me and suggested a process to reach a settlement. We didn't want to get involved in a long court case, so we tried to get a mediated settlement but even that proved impossible."

Bobby Godsell resigned on Monday as Eskom board chairperson following a meeting with President Jacob Zuma.

Godsell said in a statement he submitted his resignation as the government had not been supportive of the board's move to oust CEO Jacob Maroga.

This followed a disagreement between Godsell and Maroga over how the parastatal should be run.

Maroga's resignation was finally confirmed by Eskom's board on Thursday.

Asked about the reasons behind Zuma's intervention, his spokesperson Vincent Magwenya told the Sunday Times: "I will not comment on anything to do with Eskom".

Hogan also criticised Maroga for allowing the situation to turn political "When one party to a boardroom dispute - essentially a contractual dispute - seeks political support to resolve it, that I find problematic," Hogan is reported as saying in the Sunday newspaper.

Hogan says Maroga "asked me to use my political influence to overrule the board and reinsert him and I wasn't prepared to do that."

Hogan also refuted claims that the Eskom board chairperson Bobby Godsell was usurping Maroga's powers when he presented an alternative strategy plan for Eskom to the board last month.

"The board is there to give strategic direction to the company and the chair has to give his views on the strategy. That's perfectly normal."

Hogan is expected to meet Godsell on the weekend to discuss the recent occurances.

On Friday, ministerial spokesperson Ayanda Shezi told Sapa: "It really is up to Mr Godsell if he wants to return to the Eskom board."

This followed earlier comments by Hogan on Radio 702 on Friday that she would be grateful if Godsell reconsidered his position.

On Friday, Zuma said government had "full-confidence" in Hogan and the boards appointed to steer state-owned enterprises.

"We will not delve into what happens in the boardrooms of the SOEs, as that is a matter of the boards that run those institutions," said Zuma.

His comments were contained in a letter issued by the ruling party as the ANC and its alliance partners - the SA Communist Party, the Congress of SA Trade Unions and the SA National Civics Organisation - gathered in Esselen Park for a three-day summit.

As shareholder, the government appoints a board which works with the minister responsible, who provides political leadership to the entities," Zuma said, adding that the government had "full confidence" in the boards and the minister.

- Sapa

 
 
Comment on this story
0 comments
Comments have been closed for this article.
Facebook's intrinsic value
May 23 2012 11:32

When it comes to judging a company’s worth, value investors like Warren Buffett look at intrinsic value. By that measure, Facebook’s shares are worth less than $10. A Reuters analyst breaks down the math. (Reuters)

NicolaaSmith

CIPPA equals automatic zero erosion in the constant item economy We do not have stable – as in fixed real value – money. The real value of money is generally accepted by the public at large to be stable – as in fixed – in low inflation economies, but this is not true. The be... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

Money Clinic Do you have a question about your finances? We'll get an expert opinion.
Click here...

Loading...