BLSA applauds sacking of Transnet board

Business Leadership South Africa (BLSA) welcomes the dismissal of the Transnet board of directors, and urges Public Enterprises Minister Pravin Gordhan to be imaginative and brave in finalising the appointment of a new board for this important state-owned company.

BLSA also welcomes the minister’s determination to fix state owned enterprises, as expressed in his Budget vote speech delivered in Parliament.

The clean-up of State Owned Enterprises (SOEs) is an absolute imperative. Like Eskom, Transnet is an important part of this economy.

It’s vitally important that its leadership – especially the board – is composed of individuals with unimpeachable integrity.

We understand that the Minister could not leave Transnet without a board after sacking the old board hence the need for an interim board.

We urge him to bring in a strong board with a diverse range of skills (in finance, engineering, good governance, legal and management of major capital projects), integrity and commitment to working towards inclusive growth and transformation.

BLSA remains ready to partner with the government in addressing all the problems facing our SOEs – especially governance, capitalisation and leadership.

Once finalised, BLSA sees the new board’s task as being to fill executive posts such as the recently vacated Chief Financial Officer (CFO) post, and to deal decisively with any executive implicated in State Capture or corruption by the various investigations currently underway and the Zondo Commission of Inquiry

Bonang Mohale is CEO of BLSA

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