He was addressing the 25th annual summit of the National Economic Development and Labour Council (Nedlac) on Tuesday, where this pact was undersigned.
“The negotiation of this social compact began about a year ago when we were all seized with the energy crisis facing our country – with the prospects of load shedding and high electricity prices,” Mabuza explained.
“This year has seen significant stabilisation of Eskom operations under the current leadership, and with the support of the Eskom political task team, there is a clear path towards energy security.
“The social compact remains relevant and will be an important vehicle to hold Eskom to account to rectify the problems of the past, and serve the people of South Africa with a sustainable supply of electricity going forward.”
ALSO READ: Eskom liars need to be charged
Mabuza acceded that the Covid-19 pandemic had taken a huge toll on the country as a whole and warned: “We face the possibility of a resurgence of the virus – not only as we move into the December period, but also at the start of the year as travellers return to work, and later as we move from summer to winter.”
Mabuza said he was looking to Nedlac, the body comprising government, business, labour and community organisations, to help address the resultant economic crunch in the country.
“The widening trust deficit between government, labour and business demands full support of the structural interventions and enablers contained in the economic reconstruction and recovery plan,” he said.
For Mabuza, the Eskom compact was part of the solution to stabilising the economy.
“We therefore look for your active participation beyond these noble ideals because in our view, as the Eskom political task team, the debt and liquidity challenges of this strategic asset, call for extraordinary interventions to ensure that Eskom is supported and brought back into operational and financial sustainability,” he told the gathering.
ALSO READ: Energy expert: What is Eskom hiding and why?
“As government, we are fully behind the management of Eskom and we seek nothing other than its success.”
“This year marks the 25th anniversary of the establishment of the National Economic Development and Labour Council, hence the 25th Annual Summit. NEDLAC was one of the first post-apartheid institutions established at the birth of our democracy. Over the 25 years,
— Presidency | South Africa ???????? (@PresidencyZA) December 8, 2020