Daily Insider: Corrupt Corporates Pay Up; Now for a Serious Eskom Shake-up

The Daily Insider by BizNews.com

Crackdowns and Fruits

President Cyril Ramaphosa’s corruption crackdown is bearing fruit. More than 100 people have been arrested since September and corrupt multinationals have been paying for their role in ransacking state entities, with ABB last week paying more than R1,5bn in the biggest settlement yet.

There’s much more work to be done, as legal expert and campaigner-against-graft Paul Hoffman highlights in his thought-provoking #docupoem on whether justice will ever be served in SA. The Accountability Now director, like many of us, would like to see that Tutu-conceptualised rainbow nation become reality (for more, read ‘Justice against corruption: will it ever prevail?‘).

An obvious blight is Eskom, the cash-guzzling state utility which has provided jobs-for-pals at the expense of SA maintaining a respectable credit rating. It has re-introduced power cuts even though demand for electricity is down. DA shadow minister of energy Kevin Mileham says it is relatively straightforward to fix Eskom (read his plan, Five simple steps to solve Eskom power cuts – DA).

The message is clear. Ramaphosa has upped the ante on graft; now he needs to continue with a long-overdue shake up of the state entities that are sucking up taxpayers’ funds. This starts with Eskom and includes Denel, SAA and other organisations. As we have all heard from the Zondo Commission, SOEs have been conduits for the Zuma, Gupta, Essa, Molefe and Wood families and friends (see Ex-Eskom chair denies chief state capture specialist Brian Molefe was Gupta placement, says he was rarely skilled).

PS: If you think Eskom is spoiling your fun, take note: CR might be about to turn off the festive lights in your area. Tonight (Monday), he updates the nation on the fight against Covid-19 as infection rate picks up. Last time President Ramaphosa spoke, he cancelled the fun for Nelson Mandela Bay residents and urged us all to wear masks, keep our social distance and regularly wash hands as ways to curb the spread of the virus. Look out for the details of SA’s Covid-19 containment plan, on BizNews.com tonight.

And, for more on how SA is coping with Covid-19, see (and hear): Inside Covid-19: Pay-as-you go private medical care; Why SA is at back of Covid-19 vaccine queue – and what’s next.

Free audio book downloads for your listening pleasure. It’s that time of the week when we release the next chapters of the in-depth, insightful Cyril Ramaphosa biography, The Road to Presidential Power – by Anthony Butler, read by BizNews founder Alec Hogg, and a highly recommended business book by Tracey Swanepoel (read by the author): The Leadership Riptide – and How to Escape.