Who is to blame for the Eskom fiasco? Not just the current management, it seems

Great analysis from Fin24.com’s Jan de Lange on Eskom’s R9.5 billion “embedded derivatives” loss. Everyone’s pointing fingers at Jacob Moroga and the current management team, but these losses are the result of 25-year contracts concluded as far back as 1995… fingers should be pointing at then Eskom CEO Allen Morgan and Brian Gilbertson, his counterpart at Gencor (and later BHP Billiton, the company that is now reaping the rewards of those contracts).

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