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Ramaphosa to announce plan for Eskom after meeting with board, ministers

According to a statement from the Presidency, the meeting was called to establish alignment across government on the actions to be undertaken to stabilise the power utility.

President Cyril Ramaphosa on 18 June 2019 met with members of Eskom’s board at his official residence in Cape Town, Genadendal Residence, to establish alignment across government on the actions to be undertaken to stabilise the power utility in light of its financial and operational challenges. Picture: @PresidencyZA/Twitter.

JOHANNESBURG - President Cyril Ramaphosa on Tuesday met with members of Eskom’s board at his official residence in Cape Town.

According to a statement from the Presidency, the meeting was called to establish alignment across government on the actions to be undertaken to stabilise the power utility in light of its financial and operational challenges.

The meeting was attended by the Minister of Finance Tito Mboweni, Minister of Mineral Resources and Energy Gwede Mantashe and Public Enterprises Minister Pravin Gordhan. A nine-point plan was presented to stabilise the power producer.

“The board presented a report on the implementation of the nine-point plan, focusing on its key priorities being the need to ensure an uninterrupted power supply, cutting costs, driving efficiencies and increasing revenue through, among others, higher collection rates,” said Presidency spokesperson Khusela Diko.

Diko said the president reiterated to the board that Eskom - Africa’s largest producer of electricity – was critical to South Africa’s growth and development as one of the country’s most strategic assets.

Ramaphosa was expected to announce further measures to support Eskom’s efforts at recovery and financial and operational sustainability.

Earlier this month, Ramaphosa met with executives of over 20 state-owned enterprises (SOEs) to discuss the contributions the SOEs could make to economic revitalisation and social development.

The Presidency said the meeting was meant to hear the views of the executive leadership at the parastatals on the challenges they faced in implementing their mandates.

Diko said the discussions were frank and robust.

“At the core of it was the fact that they do not only have a developmental mandate, they have a commercial mandate and it is imperative that our SOEs are, as speedily as possible, brought up to the performance,” she said.

Following reports of political interference at SOEs like SAA, SABC, and Eskom - Diko said the roles of stakeholders at these institutions have been clarified.

She said the CEOs highlighted to the president the need for government policy that can effectively support their efforts.

Additional reporting by Clement Manyathela.

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