Cosatu wants govt to put stricter conditions for any Eskom bailout
Cosatu has called on government to fire the current Eskom board and its acting CEO Jabu Mabuza following the net loss of R21 billion the parastatal has suffered this year.
JOHANNESBURG –The Congress for South African Trade Unions (Cosatu) says it wants government to put stricter measures on any bailouts government intends to give to Eskom.
Cosatu has called on government to fire the current Eskom board and its acting chief executive officer (CEO) Jabu Mabuza following the net loss of R21 billion the parastatal has suffered this year.
The trade union federation says it will put pressure on its alliance partner, the African National Congress, to act.
President Cyril Ramaphosa's plan to turn around the power utility seems to not have impressed Cosatu very much.
After the acting CEO, who is also the board chairman, reported to parliament that the power utility is on course to lose another R20 billion next year Cosatu wants him and the entire board sacked.
The federation's Michael Shingange says it's clear that they don't know what they're doing.
“This board was put together to try and arrest what is happening in the past. Our view is that nothing has changed.”
Shingange says they're going to pressure government to be stricter about future bailouts.
“In order for you to access this funding, [there are] conditions that are supposed to be met, which the board doesn’t seem to be capable of.”
Shinngange says if the anc government fails to act- they will be putting the entire future of the country at stake.