Podcast | For the past two years, Stephen van Coller has been holding down one of the toughest CEO jobs in South Africa – attempting to lead IT services group EOH Holdings out of dire straits.
Suspicious payments flowed to a company owned by Johannesburg mayor Geoff Makhubo and to the ANC in the months directly before and after EOH landed major contracts with the city.
In a pre-closing update ahead of the publication of the group’s interim financial results for six months to end-January 2020, EOH signalled that it’s slowly turning the corner, operationally at least.
EOH has blacklisted 50 “enterprise development” partners and intermediaries and reported suspected criminal behaviour to authorities for investigation and possible prosecution as it continues a clean-up of its operations.
EOH Holdings’ new black empowerment partner, Lebashe Investment Group, has said it won’t subscribe for a R250-million third and final tranche of a planned R1-billion investment in the JSE-listed technology group.