Aside from recommendations on prosecuting board members, executives and others at state-owned enterprises (SOEs) implicated in State Capture -- and not just Eskom -- declaring directors delinquent and recouping money, the Zondo Commission also recommended fundamental shifts in the governance of SOEs. Little seems to have happened.

In June 2022, the State Capture Commission chaired by now Chief Justice Raymond Zondo didn't mince its words in a series of findings and recommendations about SOEs which ranged from armaments entities Denel and Armscor, state diamond miner Alexkor, passenger rail agency Prasa and public broadcaster the SABC to Transnet and Eskom.

The recommendations on improved governance, such as transparent appointment processes and criteria alongside persistent monitoring and controls, were aimed at ending and ensuring there was no repeat of State Capture at SOEs through pliant boards and executives.

The Zondo Commission argued it must "insist on a truly independent and transparent process free from political manipulation", so when a minister makes SOE appointments they must be based on merit.

When the commission completed its task in June 2022, it pointed out, "There are no effective mechanisms which would prevent cronyism and cadre deployment from continuing to dominate the appointments to the boards and to senior executive officers [posts]."

Fast-forward to October 2023, and little has changed.

Draft legislation

Talk of a new shareholder management model -- or how the relevant ministers interact with the SOEs in their portfolio -- goes back to at least mid-2017 with the 14-point plan...