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ESKOM HOLDINGS SOC LIMITED - Eskom remains committed to releasing its integrated long-term strategic plans - BIESKM

Release Date: 18/09/2018 17:10
Wrap Text
Eskom remains committed to releasing its integrated long-term strategic plans - BIESKM

Eskom Holdings SOC Limited
JSE Code: BIESKM
Date 18 September 2018

MEDIA STATEMENT

Eskom remains committed to releasing its integrated long-term strategic plans

Tuesday, 18 September 2018: Post the Board’s appointment, the Eskom management
team presented the Strategy Journey map to the Board in March 2018 after which work
commenced on the strategy review in April 2018. At this point, a financial viability framework
which setup the financial sustainability measures was also developed and Eskom committed
to its stakeholders to develop and approve its long-term strategic plans by end of September
2018. To that end, the strategy review was initiated internally to develop a new path for
Eskom towards 2035. To ensure that work developed by the internal work-streams is stress-
tested and aligns with global trends, Eskom enlisted the services of the Boston Consulting
Group (BCG) as a strategic partner to support the development and delivery of the strategy.

Following the commencement of the work in late August 2018, it has become apparent that
the end September 2018 deadline initially targeted for the completion of the strategy will not
be achievable. This is due to a number of factors, including, but not limited to the delay in the
appointment of a permanent Group Chief Executive; protracted labour negotiations; and the
timing of the announcement of the final Integrated Resource Plan (IRP) as one of the key
elements that will inform the strategy.

The Board has subsequently approved the submission date of 15 November 2018 for the
final strategy blueprint, including portfolio recommendations, high-level Eskom operating
model configuration and high-level financial plan.

The Board and management in consultation with the shareholder have agreed that the
development of a well thoughtout and stress-tested strategy blueprint of this nature and
magnitude merits the slight delay to ensure that all key factors are considered in developing
the strategy and that there is proper co-ordination between different key entities of the state.

“Eskom’s Board and management team are cognisant of the impact that Eskom has on the
country. It is therefore, imperative that Eskom engages with key external stakeholders to
ensure that an effective strategy is developed and executed.
To mitigate risks and further delays, we have established a Board Strategy Committee that
will meet frequently over the next few weeks to ensure continuous Board oversight and
timeous execution,” Eskom Chairman Mr Jabu Mabuza said.




ENDS




Issued by: Eskom Media Desk

Tel:      +27 11 800 3304/3343/3378

Fax:      086 664 7699

Email:    mediadesk@eskom.co.za

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