As state-owned enterprises Eskom and Transnet continue to flout their moral obligations, one business organisation in the country has said ‘enough is enough’.
Business Leadership South Africa (BLSA) said in a statement the suspension of Eskom and Transnet comes after engagement with the two SOEs, in connection with extensive allegations of corrupt behaviour over a long period.
They are on the respectability scrapheap along with financial auditors KPMG. They were found to be fiddling figures regarding certain Gupta companies and a state-funded wedding for Vega in 2013.
The trio have all been as thick as thieves together, whilst acting complicity in state capture. Eskom and Transnet have had more allegations thrown at them than any other business. Hence, BLSA have chosen to withdraw their membership.
They announced their decision whilst launching their #BusinessBelieves campaign. The initiative aims to create more jobs in SA and help grow the economy.
The CEO of the business group Bonang Mohale condemned their behaviour, and maintained that they take a ‘zero-tolerance approach’ to organisations that act without integrity:
“This behaviour is entirely at odds with the values of BLSA, captured in our integrity pledge. Neither of the SOEs were able to give BLSA comfort that they appreciated the seriousness of the issues at hand. Nor that they had the requisite will and purpose to put their houses in order,”
“This left BLSA with no choice but to suspend their memberships from the organisation. We have to live by our values and will take a zero-tolerance approach to any organisation found in breach.”
Mohale poured particular scorn on Eskom. As the nation’s official energy provider, he blasted the firm as a ‘threat to stability, looming large over the economy’.
BLSA signed a symbolic ‘contract’ with South Africa, to cement their commitment to best business practice and integrity. No wonder there isn’t any space for Eskom or Transnet.