The extent and magnitude of value destruction in Eskom is just astounding and grotesque. But dont forget that; 1) The Vice President was entrusted with mandate and responsibility ability of Political Oversight under the JZ administration. 2) A succession of
ministers acted as Shareholder Representatives. 3) Brian Molefe was CEO while Guptas and consultants were having the best of their times. 4) The political power and authority of the ANC was uninterrupted during this period. 5) Is it possible, even remotely
possible that the top echelons of the ANC saw nothing; knew nothing; was not involved in some way via agents? 6) @tito_mboweni is now unable to put together a budget that convinces. 7) There's a credible possibility of a downgrade to junk status.
SA needs to be flushed of systemic incompetence and looting. But far more important, we need to critically ask ourselves: Can we afford political oversight as it is currently defined? How do we stop political intrusion in management of SOEs?
