News / South Africa

Gosebo Mathope
1 minute read
21 Jan 2018
4:10 pm

Banking association encouraged by Eskom leadership change

Gosebo Mathope

Basa believes it is an opportune moment to place South Africa back on the path of economic growth and job creation.

Cas Coovadia | Banking.org.za

The appointment of a new board of directors for Eskom will go a long way towards rebuilding confidence in the leadership and the economy of the country.

Banking Association of South Africa (BASA) MD Cas Coovadia said in a press statement “This decision is one of the latest in several steps taken by government since the appointment of the Deputy President as the President of the ANC.”

The new board, under the leadership of the newly-appointed Chairperson, Jabu Mabuza, must move quickly to strengthen the executive team at Eskom, get rid of those in the team under investigation for corrupt activities, address the “going concern” crisis and enable the organisation to play the critical role it must to enable economic growth,” Coovadia said 

He believes it is an opportune moment to place South Africa back on the path of economic growth and job creation.

“If South Africa is to position itself as “open for business” at next week’s World Economic Forum in Davos, government will need to provide clarity on what immediate actions it plans to take to re-establish both domestic and international confidence in South Africa as an investment destination,” 

 He concluded by saying the Banking Association South Africa welcomes this positive development and wishes the new Eskom board well in the significant tasks ahead.

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