News

BMF warns black executives not to risk employment at state-owned companies

The Black Management Forum (BMF) has warned black executives that their reputations could be tarnished if they take up a senior position in a state-owned company (SOC).

The BMF are shocked that two seasoned black executives – Phakamani Hadebe from Eskom and Vuyani Jarana from South African Airways (SAA) have resigned in the past two weeks.

The BMF claim to have been advised that other top SOC executives are also on the verge of resignation due to political interference and the lack of support from government.

During the time that Reuel Khoza, Thulani Gcabashe and Peter Matlare were leaders, the SOC’s were reasonably well-run but since certain factors are beyond the control of skilled black leaders and executives their reputations have become tarnished.

There is no doubt that the resignation of Phakamani Hadebe has put minister of public enterprises, Pravin Gordhan under immense pressure to root out corruption as Eskom’s debt rises to R500-billion.

The BMF want the national government to address certain areas before they change their message to black executives.

Among other things, the government should not be trying to run the SOC but only supervise them which means executives should not have to report to multiple government departments with ever changing ministers in order to achieve results.

It has come to the attention of the BMF that some SOC’s have been unable to pay monthly salaries due to financial concerns.  This situation needs to be rectified and a funding model developed.