“We are going to continue with our reforms of our state-owned enterprises because a number of them have held us back.”
Ramaphosa said corruption had “set itself into Eskom” and that proper management processes had been “completely destroyed” at the company, which is teetering on the edge of collapse with debts of $30 billion.
“We are going to proceed to clean it up,” he vowed, promoting his plan to restructure the company and tackle its vast debts.
“In the end, Eskom is too big to fail. The plan is in place, it is credible… If Eskom fails, this economy fails, this country also fails, so we are not going to allow that.”
Ramaphosa also added that South Africa’s 27 percent unemployment rate “keeps me awake at night,” adding: “The key mandate I have as president is to make sure that our focus is on jobs.”