Eskom, Exxaro row over BEE compliance

By BO Staff Writer The coal mining company, Exxaro Resources, has announced that it approved a transaction which would result in its majority black ownership stake declining from 50% to 30%. Exxaro is Eskom’s largest coal supplier and has 50.19% black ownership under the company, Main Street 333 Proprietary Limited. The 30% ownership level is …

Brian Molefe’s FULL resignation letter

By BO Staff Writer The CEO of Eskom, Brian Molefe, who drove the State Owned Enterprise (SEO) out of it’s loadshedding crisis, has resigned. Read his full resignation letter below: In an open letter to Brian Molefe, Adil Nchabeleng said “(w)e applaud your effort and the leadership of your team for having turned around Eskom …

Open Letter to Brian Molefe

By Adil Nchabeleng Brian Molefe, we congratulate you and the Eskom Board & Management on the bold and stern leadership demonstrated by yourselves in Eskom during these challenging times. The recent Financial Results and achievements of Eskom are impressive. It is common knowledge that many public institutions in South Africa are used to target and …

Sipho Pityana the Askari of the Oppenheimers

By Andile Mngxitama “I prefer land to niggers.” – Cecil John Rhodes Sipho Pityana has launched himself as the conscience of the nation ever since the funeral of Mkhankesi Stofile. This is a blatant abuse of the nation’s sympathy and respect for the dead to undertake the most shameless defense of monopoly capital in modern …

Media exposed, Guptas cleared

By BO Staff Writer The Gupta family has now been cleared by over four entities of any wrong doing but you wouldn’t know this from the media reports. The big story over the weekend by the City Press revolved around the alleged Eskom untoward “bail out” of the Gupta family business. But, Eskom has issued …

Big questions around the Guptas resigning from Oakbay Resources and Energy

By Pinky Khoabane There’s perhaps no clearer example of capitalists’ use of economic power to muzzle opponents than the decisions by financial institutions and an auditing firm to cut ties with investment company, Oakbay Resources and Energy which, until last friday was owned by the Gupta family. In the past week, ABSA, FNB and KPMG …