President Cyril Ramaphosa is seen during the announcement of a cabinet reshuffle, 22 November 2018, Union Buildings Pretoria. Picture: Jacques Nelles
Citing “horrific incidents” at state-owned enterprises and what has been described as the ignoring and trashing of general corporate governance rules, President Cyril Ramaphosa has revealed he has assembled the top minds in the country in an effort to fix SOEs.
Speaking to Xolani Gwala in an exclusive radio interview on 702, Ramaphosa promised he would announce a task team to concentrate on the power utility on Friday which would try and find solutions to repair the damage.
The president shared how various ministers in his cabinet, including Pravin Gordhan, were shocked at the condition of SOEs.
“And they are seeing a number of horrifying things where governance with rules and traditions and practices were just trashed and completely ignored, where people decided to do as they wish,” said Ramaphosa.
He also stated Eskom had racked up debt between R450 and R475 billion.
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Ramphosa went on to speak about the range of problems that have remained top of mind during his short tenure as president, including the Bosasa scandal, land expropriation, Tom Moyane’s sacking, and the drama surrounding the leadership succession at the NPA.
Watch the full interview below:
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