Image: Wikimedia Commons
The Black Management Forum believes black executives’ reputations are being tarnished by impossible goals set at the failing entities.
Image: Wikimedia Commons
The Black Management Forum believes it could be detrimental to the careers of black executives until a clear plan for the future of state-owned companies (SOCs) has been laid out by the government.
The BMF revealed on its website that it was stunned by the recent resignations of Phakamani Hadebe and Vuyani Jarana from Eskom and South African Airways respectively.
“There was a time when some SOCs were reasonably well-run under the leadership of black people such as Reuel Khoza, Thulani Gcabashe, and Peter Matlare,” BMF President Andile Nomlala said.
“However, SOCs have become a slaughterhouse for skilled black leaders and executives whose reputations get tarnished because of factors that are beyond their control.”
According to the BMF, they have been informed by other top executives of their intentions to soon also tender their resignations from their positions at SOCs.
“It has come to our attention that other black leaders and executives are on the verge of also submitting their resignation letters due to intolerable levels of political interference and the failure of the government to fully support them and address the capital structures and funding models of their struggling SOCs,” Nomlala continued.
They have identified six areas of concern that they want to be addressed by the national government before they will change their message to top black executives in South Africa.
Namely: