Business Leadership South Africa (BLSA) has suspended the membership of both Eskom and Transnet with immediate effect, citing the state-owned enterprises’ connection with “extensive allegations of corrupt behaviour over a long period”.
“South Africans have been rightly disturbed in recent times at the numerous allegations of corrupt behaviour and colossal failures of corporate governance and accountability at both Eskom and Transnet,” said BLSA CEO Bonang Mohale in a statement.
Mohale said after engagements with Eskom and Transnet, neither were able to give BLSA the “comfort that they appreciated the seriousness of the issues at hand”.
He said the state-owned enterprises also never had the 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,” said Mohale.
Both Transnet and Eskom have been implicated in wide allegations of corruption, with Gupta family-owned companies linked to bribery allegations to win contracts.
- This article was originally published on Moneyweb and is used here with permission