Eskom coal

Eskom board position after just three months working for Guptas

After just three months on the board of Gupta-owned Oakby Investments, Mark Pamensky got bumped up to Eskom’s board as well.

Eskom coal

So, according to BizNews, Mark Pamensky got a top job at Eskom after just three months on the board of Gupta-owned Oakbay Resources and Energy.

On Eskom’s site, Pamensky is listed as GOO at Blue Label Telecoms, but he isn’t; and on Oakby Investments’ site there’s no mention of him as director… even though he is, according to Alec Hogg from Biznews.

Following the initial report, Fin24 did a bit of a check on Eskom and Oakby’s sites and found proof that Pamensky is, in fact, a non-executive director for both Eskom and Oakby Investments. According to Eskom, Pamensky’s got “experience in effecting turnaround strategies.”

The national power supplier’s Khulu Phasiwe vaguely tried to justify Pamensky’s appointment by saying that he was hired three months after being appointed to Oakby’s Resources and Energy – no obvious connection there – board.

Mr Pamensky’s interests, as with all directors on the Eskom board, are managed in terms of the legal and governance requirements relating to disclosure of personal financial interests,” said Phasiwe.

“Eskom is confident that it has a robust system and processes in place to ensure that actual, potential and perceived conflicts of interest of all its directors and employees are managed effectively.”

Ok so let’s just address the obvious elephant in the room: Pamensky sits on the Gupta family’s Oakby Investments’ Energy and Resources board and three months later gets appointed to Eskom’s board. The Guptas not long ago acquire coal mines that would supply Eskom with coal for power stations… get it?

So, according to Hogg, the ‘inquisition’ into state capture should start with Eskom and Pamensky.

“Oakbay’s own bios of its directors describe Pamensky as ‘currently employed’ as Blue Label’s COO (chief operating officer), a position he resigned from last November,” Hogg said. “When leaving, Pamensky told Blue Label’s co-CEO Brett Levy he was setting up his own property development company. Instead, he moved into Guptaland.”

“With three other CAs (chartered accountants) on Eskom’s board, his appointment makes no sense. Even less when you discover Pamensky is also a director of the Gupta mothership company Oakbay, whose recently expanded coal operations have a single major client – Eskom.”

Well shit.