START YOUR DAY BETTER INFORMED – HERE’S THE LINK TO TODAY’S EPISODE OF THE BIZNEWS BREAKFAST BRIEFING: Musk dumps Twitter; Rand hits R17; Warnings to SA corporates on remote work and hiring foreigners.
As we term them in the business, a “usually reliable source” tipped me off over the weekend that Eskom CEO Andre de Ruyter is about to be stage-managed out of the worst job in SA. Apparently, pressure from the ANC’s Zuma faction for a more ‘politically acceptable’ replacement is irresistible.
___STEADY_PAYWALL___My inquiries suggest the source is onto something. But it’s not certain the tipping point has been reached. De Ruyter‘s removal would be poorly interpreted both internationally and locally. President Cyril Ramaphosa, although severely weakened by Sofagate, still makes the final call. He knows the impact of firing AdR, so is holding the line. At least for now.
It raises something much bigger. The mere fact De Ruyter’s position is under discussion within the ANC illustrates SA’s sick governance. Eskom is a State entity. It belongs to all citizens, NOT the ruling political party. And as we know all too well, it is we taxpayers who carry the can for its debts.
Yet the ANC, the party which taxpayers entrusted with power, is not satisfied with having plundered a once proud electricity provider into penury. Some of its most powerful members now want to chop off the head of the first CEO in years who is not part of the problem. Because he won’t feed them. SA’s 2024 National Election cannot come quickly enough.
More for you to read today:
- RW Johnson: A new Broederbond, only more ambitious. The ANC’s powerful deployment committee aims to place the correct people in all key positions of power
- Twitter, Elon Musk Set for Unprecedented Legal Battle Over Deal Collapse. Two sides expected to battle over $44 billion deal in Delaware court
- Sri Lankan President Gotabaya Rajapaksa to Resign Amid Protests. Prime minister also stepping down as protesters stormed, occupied the president’s residence amid public anger over the country’s deepening sovereign debt crisis
- Fed Up With China, One Boss Tries Removing It From the Supply Chain. Designer perfume maker Inter Parfums is shifting production to U.S., but some suppliers are unsure how long it will last
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