South Africa's Ramaphosa Begins to Clean House
The newly-elected leader of South Africa's ruling African National Congress, Cyril Ramaphosa, has intervened to clean up the state-owned electricity utility ahead of leading the country's team to the 2018 World Economic Forum meeting in Davos from January 23.
Faced with a warning from Minister of Finance Malusi Gigaba that the debt-ridden company was unable to raise money and could bring down government finances, the government appointed a new board and ordered the removal of top executives implicated in corruption.
Deputy President Cyril Ramaphosa, left, and Finance Minister Malusi Gigaba meeting business leaders to plan South Africa's strategy at the forthcoming 2018 World Economic Forum meeting in Davos from January 23.
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