Following the statement released by Business Leadership South Africa (BLSA) earlier today, where they said that Eskom and Transnet has been suspended from their organisation, Transnet has come out guns blazing, disputing the claims made by BLSA.
BLSA said the suspension of Eskom and Transnet followed engagement with the two companies "in connection with extensive allegations of corrupt behaviour over a long period".
Transnet received a meeting request from Mohale to discuss the cancellation but it did not take place because of diary clashes, said Likhethe.
"Neither of the SOEs were able to give BLSA comfort that they appreciated the seriousness of the issues at hand‚ or that they had the requisite will and goal to put their houses in order".
Transnet released a statement saying that it had noted BLSA's statement claiming that it had suspended Transnet's membership. "We have to live by our values and will take a zero-tolerance approach to any organisation found in breach".
Mohale said Eskom represented a systemic risk to the economy because of its multiple governance and operational failures and a stretched balance sheet. Transnet say that they elected not to renew the membership due to cost-cutting measures and that this was communicated to BLSA on 9 August 2017. The suspension is pending a probe into the audit and advisory firm's conduct related to the work it did for the Gupta family and the South African Revenue Service (Sars) report.
"Until and unless a non-conflicted, experiences and permanent chairman and board are appointed - who in turn appoint an experiences and honest executive team - Eskom will loom large over the economy as a threat to stability and economic growth", BLSA said.
Both Transnet and Eskom have been implicated in wide allegations of corruption, with Gupta family-owned companies linked to bribery allegations to win state contracts. However, Zuma wants the report and its recommendation for a judicial investigation to be reviewed and set aside.