'Problems at Eskom need bold, immediate surgical excision'

Finance Minister Malusi Gigaba says that the issues at the power utility are not only impacting on its balance sheet but on its credibility and that of government.

FILE: Finance Minister Malusi Gigaba. Picture: Christa Eybers/EWN.

HOUGHTON - Finance Minister Malusi Gigaba says the problems at Eskom require bold steps that will demonstrate to investors that South Africa is serious about fighting corruption.

Gigaba, however, says that the biggest problems facing the country’s SOEs do not entirely emanate from state capture.

The Finance Minister was speaking at the Johannesburg Attorneys Association’s 75th annual general meeting in Houghton on Tuesday night.

“I say the problems at Eskom need a bold, immediate surgical excision.”

That’s what Gigaba had to say when asked about what government is ongoing to do to address problems at Eskom.

Gigaba says that the issues at the power utility are not only impacting on its balance sheet but on its credibility and that of government.

“And we must demonstrate to investors and rating agencies that we’re committed to fighting corruption and acting immediately to address those problems.”

The Finance Minister says that South Africa must act fast to address investor concerns over corruption, policy and political stability amongst other issues.

(Edited by Zamangwane Shange)