28/09/2017 12:04 BST | Updated 28/09/2017 12:22 BST

Eskom Responds To BLSA: We Need To Self-Correct

"When you are wrong, there is no need to fight back when you know how much you need to be punished".

Anadolu Agency via Getty Images
Business Leadership South Africa head Bonang Mohale. (Photo by Sebnem Coskun/Anadolu Agency/Getty Images)

Eskom says it will have to self-correct by taking "stern action" against all those involved in violating the embattled parastatal's regulations.

The statement comes after Business Leadership South Africa announced on Thursday it had suspended the membership of both Eskom and Transnet with immediate effect. This follows BLSA's engagement with the two state-owned enterprises in connection with extensive allegations of corruption.

Responding to BLSA, Eskom spokesman Khulu Phasiwe said, "When you are wrong, there is no need to fight back when you know how much you need to be punished".

"Eskom will have to self-correct, and the starting point is to take stern action against the individuals who will be found to have violated both the company's regulations and those of the country," Phasiwe said.

"The current internal investigation and the mooted parliamentary inquiry will help us get to the bottom of the allegations facing Eskom, and to help restore Eskom's reputation in the process."

BLSA CEO Bonang Mohale said South Africans have been disturbed by numerous allegations of "corrupt behaviour and colossal failures of corporate governance and accountability" at both Eskom and Transnet.

"This behaviour is entirely at odds with the values of BLSA, captured in our Integrity pledge. 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 purpose to put their houses in order," BLSA said in a statement.

"This left BLSA with no choice but to suspend their memberships from the organisation. We have to live by our values and will take a zero-tolerance approach to any organisation found in breach."