Trevor Manuel: ‘Decade to recover from state capture’
Eskom a textbook case of what went wrong, says Trevor Manuel
Former finance minister Trevor Manuel has warned that it will take more than a decade for the economy to recover from the destruction left by state capture. "We're paying the price of the costs of capture and of inefficiencies," said Manuel in an interview this week about South Africa's investment prospects. He said the strike at Eskom was a case in point. This week coal deliveries to power stations were disrupted and water bottles were thrown at CEO Phakamani Hadebe as he signed a memorandum of demands from protesting workers. This came after Eskom said there would be no wage increase as the utility was battling to trim costs. Manuel said: "The fact [is] that they've employed all these people and borrowed money to pay people who shouldn't be employed.It all speaks to bankruptcy. Within the organisation there were a number of people who worked in Eskom for many years and they got caught up in malfeasance. "Eskom is a textbook case of how things go wrong. When I became minister of fi...
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