Eskom and its shareholder are likely to face increasing pressure from its lenders to put a competent and credible board and management team in place, with at least two of SA’s big banks having written to the power utility to ask what it plans to do to address the issues raised in the qualified audit report on Eskom’s recent financial results. Eskom put its chief financial officer Anoj Singh on special leave on Thursday night amid reports that the Development Bank of SA (DBSA) had threatened to recall its R15bn loan to the utility if no action was taken against Singh. The Sunday Times reported on Sunday that Rand Merchant Bank and Barclays Africa had also written to Eskom, raising concerns about the qualified audit and poor governance. Barclays Africa CEO Maria Ramos disclosed on Friday, at the release of the banking group’s annual results that the group had taken up the issue. "We have written to Eskom, and to the ministers of public enterprises and of finance, to ask them to explai...
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