Appointed to the board at the end of 2014, Khumalo tendered his resignation to Public Enterprises Minister Lynne Brown , describing that he wished to concentrate on his household company as well as various other commitments.
“As you may be know I left business and also determined to observe the call on black industrialists to get involved meaningfully in the mainstream of our economic. I signed up with the Eskom board to offer as well as make a distinction at an important time in our c, yet because of time restraints, I’m overcome,” the letter reviewed.
However, Business Day is reporting that his departure is an attempt to distance himself from the power utility and the allegations swirling around about state capture.
His resignation comes weeks after the Mail & Guardian published a story about the parastatals and networks alleged to be involved in the Gupta’s ‘web’, in which Khumalo’s name was mentioned as being previously linked with a Gupta associate Salim Essa through business relations.
Khumalo has denied being associated with the Gupta family.
“The inclusion of my name in the spider’s web of the Gupta family’s influence in government is purely misleading and it’s clearly intended to unfairly drag my name into the gutter of state capture politics. I must place it on record that I signed up to the Eskom board to serve and contribute, and I have served diligently and honestly on the main board and as a member of sun-committees,” he said in a letter sent to M&G after the story was published.
Meanwhile, Business Day also reports that President Jacob Zuma has quietly released Ajay Gupta from the Brand SA board as well as Zungu Investments Company Chairman Sandile Zungu.
Ajay was the longest-serving member of the board, having first been appointed to the board during former President Thabo Mbeki’s administration.
Business Unity CEO Khanyisile Kweyama has been appointed to chair the board, while Sinayo Securities CEO Babalwa Ngonyama has been appointed Deputy Chairwoman.