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BLSA to accompany Eskom to NY investor conference

Cape Town - Business Leadership SA (BLSA) may have suspended Eskom’s membership in late September, but it will accompany the state power utility to an investor conference in the US in November to help buttress investor confidence in SA. 

On Thursday afternoon in a media statement, Eskom said it had met with BLSA's leadership for in a “robust and positive" interaction. 

The JSE SA Tomorrow investor conference is taking place in New York on November 9 and 10. 

Approached for comment on Thursday afternoon, BLSA spokesperson Themba Maseko confirmed the information. 

He said that while Eskom’s membership remained suspended, BLSA was still focused on helping to improve corporate governance at the power utility. 

Eskom interim chief executive Sean Maritz said he met with BLSA CEO Bonang Mohale on Thursday. 

“Some of the issues he raised with us pertain to internal processes which are currently being addressed. And Eskom is committed to deal with corruption and maladministration,” he said. “If corrupt activities are found in relation to Eskom staff or contractors, we will take appropriate action”.

The media release quoted Mohale as saying that SA business was playing its part in creating a South Africa of increasing prosperity for all. 

“It is perfectly legitimate for business to use its voice loudly as it has always been, and will always be, heavily invested in the continuance and success of this democracy. When business does well, society generally does well,” he said, according to the Eskom release. 

Suspended

BLSA  suspended Eskom’s membership in late September over allegations of corruption and maladministration at the state power utility. 

It has also suspended the membership of Transnet. 

"This behaviour is entirely at odds with the values of BLSA, captured in our integrity pledge,” said Mohale at the time. “Neither of the SOEs were able to give BLSA comfort that they appreciated the seriousness of the issues at hand, or that they had the requisite will and purpose to put their houses in order." 

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