Ngubane Must Face a Judicial Commission of Inquiry – FEDUSA
The Federation of Unions of South Africa (FEDUSA) has noted the resignation of Eskom Board Chairman Ben Ngubane and wants him to face a judicial commission of inquiry for his role in the mismanagement of the state power utility during his tenure of office.
Ngubane’s resignation was announced on Monday night by Public Enterprises Minister Lynn Brown: “Dr Ngubane formally tendered his resignation which I accepted,” Brown said in a statement.
“I would like to thank Dr Ngubane for his contribution to turning Eskom around since the load shedding days of 2014/15 and wish him well in the future”.
The Minister said she was appointing Zethembe Khoza as the utility’s interim Chairman until Cabinet had appointed a new Board. Kloza’s immediate task would be chair Eskom’s annual general meeting later this month.
FEDUSA firmly believes it will be a travesty of justice to let Ngubane get off the hook so lightly and all efforts and attempts at state capture should be eliminated. The damning revelations of the capture of Eskom leadership by the Guptas, and the breakdown of corporate governance should be firmly placed at the door of Ngubane, who headed the Board.
“Ngubane must be held accountable before an independent judicial commission of inquiry. This is in accordance with our 6th National Congress in November last year which resolved that Directors found guilty of mismanaging resources on their watch should face the full might of our company laws,” said FEDUSA Acting Secretary General Riefdah Ajam.
“The rationale of this remedy is that a Director who is guilty of serious abuse of his position and infringements of his fiduciary duties should not be allowed to continue to hold a Directorship or should only be allowed to continue to do so under strict conditions imposed by a court. Section 162 sets out to raise the standards of good behaviour and integrity expected of directors and makes them accountable not only to the company, shareholders and fellow directors but also to the employees of the company.
“Moreover, FEDUSA’s Congress further resolved that the federation would approach the high court, declaring transgressors as delinquent directors, which will prevent them from holding directorships in ANY other company or business and send a very strong warning to the directors of other state owned enterprises”.
FEDUSA is the largest politically non-aligned trade union federation in South Africa and represents a diverse membership from a variety of sectors in industry. See www.fedusa.org.za for more information.
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