Rothschild not in business with Eskom - Radebe | Fin24
In partnership with
  • Covid-19 Money Hub

    The hub will help answer your business and money questions during the coronavirus crisis.

  • Dudu Myeni

    The former SAA chair has been declared a delinquent director for her role at the national airline.

  • Cigarette Ban

    Govt says emerging research shows smoking leads to more severe cases of Covid-19.


Rothschild not in business with Eskom - Radebe

Nov 15 2018 21:28
Khulekani Magubane, Fin24

Eskom is not doing business with the Rothschild Group, despite recorded meetings and correspondence between the two, Energy Minister Jeff Radebe has told Parliament.

The minister's written reply, a response to question from Economic Freedom Fighters (EFF) MP Mzingisi Dlamini, was released on Thursday.

Former finance minister Trevor Manuel currently serves as the Rothschild Group's deputy chair.

READ: Govt won't simply hand over state entities to China, Parliament hears

Dlamini asked if Eskom CEO Phakamani Hadebe had received a letter from Rothschild CEO Mark Kingston, and what Hadebe’s response had been to such a letter, if any.

Radebe confirmed to Dlamini that Hadebe had received a letter from Kingston. 

He said the power utility was already in the process of developing its own strategic plans, and Rothschild offered assistance in its long-term strategic planning.

"In the letter, the group chief executive appreciated the interest shown by Rothschild in assisting with the challenges faced by Eskom, and mentioned that the Eskom’s Executive Management Committee was in the process of developing its own strategic map for the organisation," said Radebe. 

Radebe said Hadebe advised Rothschild on next steps to be taken once there was internal alignment.

The letter did not result in any business deals between Eskom and Rothschild, said Radebe.

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

eskom  |  trevor manuel  |  jeff radebe  |  strategy


Company Snapshot

Voting Booth

How has Covid-19 impacted your financial position?

Previous results · Suggest a vote