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The rot at Eskom: 10%+ of staff failed to declare financial interests says SIU

15 October 2020 8:24 PM
Tags:
Eskom
SCOPA
Corruption
Special Investigating Unit
The Money Show
Chris Yelland
Bruce Whitfield
SIU
Standing Committee on Public Accounts
Corruption at Eskom
Eskom employees

The investigating unit is uncovering the scale of corruption at Eskom. Bruce Whitfield interviews energy analyst Chris Yelland.

The Special Investigating Unit (SIU) is busy exposing the scale of mismanagement and corruption at Eskom.

New CEO André de Ruyter is trying to turn the crippled state-owned enterprise (SOE) around, but in the meanwhile it threatens to take South Africa down with it.

Eskom CEO Andre de Ruyter. Picture: @Eskom_SA/Twitter

This week, the SIU briefed the Standing Committee on Public Accounts (Scopa) about its ongoing probe at Eskom.

EWN reports that the unit has referred 5,452 staff members for disciplinary proceedings - that's more than 10% of the workforce.

This is for failing to declare their financial interests or for doing business with Eskom.

RELATED: Eskom (read South Africa) has a dim future - a stroke of the pen can fix it all

Bruce Whitfield interviews Chris Yelland, energy analyst and MD of EE Business Intelligence

Yelland says if Eskom could increase its shareholder base this would drive accountability.

It's a lack of accountability at the highest level as well as through multiple layers in the organisation and ultimately, for me, one of the ways of driving accountability is to increase one's shareholder base.

Chris Yelland, Energy analyst and MD - EE Business Intelligence

If one only has one shareholder and that shareholder is the state... and they're playing with taxpayers' money that level of accountability is not there.

Chris Yelland, Energy analyst and MD - EE Business Intelligence

That's not to say that public companies are inevitably corruption-free but there's undoubtedly more pressure for accountability, shareholder pressure and not just a shareholder who sitting back watching.

Chris Yelland, Energy analyst and MD - EE Business Intelligence

In September, Eskom CEO André de Ruyter suspended some power station managers for poor performance.

Yelland agrees that this move was long overdue.

It's essential to drive a culture of excellence in an organisation - Eskom used to be known as an excellent state-owned enterprise very different from the others. Unfortunately in the last 5-8 years the culture changed radically.

Chris Yelland, Energy analyst and MD - EE Business Intelligence

The new CEO is really driving a new culture of accountability and a demanding of excellence and I think he has to be applauded for this.

Chris Yelland, Energy analyst and MD - EE Business Intelligence

Yelland also discusses a day of important presentations at Eskom around planned new generation capacity from independent power producers.

Listen to the conversation below: (skip to 3:37 for the SIU discussion)


15 October 2020 8:24 PM
Tags:
Eskom
SCOPA
Corruption
Special Investigating Unit
The Money Show
Chris Yelland
Bruce Whitfield
SIU
Standing Committee on Public Accounts
Corruption at Eskom
Eskom employees

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