State owned enterprise ESKOM is insolvent and illiquid such that its ability to meet operational costs and long-term debt obligations appears unlikely. The Institute for Accountability in Southern Africa (Accountability Now) is questioning how ESKOM is to continue to trade in the present circumstances which would, in Accountability Now’s opinion, be contrary to section 22 of the Act on any reasonable interpretation.
How can we work towards a common, mutually beneficial future in an extremely diverse world fragmented by difference? Multinational companies are well acquainted with this problem, as they confront it daily through the communication conundrums between their regional offices.
The rate at which new trends appear and influence the way we live has become astounding. The last decade, with its countless technological advances, has signalled a move into the internet shop, a faster pace in most spheres of day-to-day life and the importance placed on providing more convenient, time-efficient solutions.
South Africa is well behind the curve, but the good news is that the money is moving into ESG (Environmental, Social, Governance). The recent Steinhoff disaster has proved to the local market that pesky governance and compliance issues are important! So, like it or not, it’s time to get with the programme and here are my top ten things every SA CEO needs to know this year:
The need for ethical leadership is much clearer and more urgent now than it has ever been since the dawn of the new South Africa. Unfortunately, it took massive corruption to elevate the importance of ethical leadership in the public consciousness, and so the cost has been high to get us to this level of awareness.
South Africa’s non-executive directors cautioned to exercise due care in discharging their responsibilities in the wake of recent corporate disasters. Boards are under significant pressure to continually transform in the face of disruptive technology, globalisation, political and economic uncertainty, and a volatile marketplace.