Power utility Eskom said on Thursday it noted a decision by Business Leadership South Africa (BLSA) to suspend its membership with immediate effect over allegations of "state capture".
"Eskom has noted Business Leadership SA’s (BLSA’s) decision to suspend the company’s membership with immediate effect," the power utility said.
"Eskom’s interim group chief executive Johnny Dladla has written a letter to the BLSA leadership for a meeting to address their concerns and agree on the way forward."
On Thursday, BLSA announced that it had suspended the membership of Eskom and Transnet.
BLSA said this followed engagement with the two state-owned enterprises in connection with extensive allegations of corrupt behaviour over a long period.
BLSA chief executive Bonang Mohale, in a statement, said South Africans had been rightly disturbed in recent times at the 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," Mohale said.
"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."
Leaked emails reveal that the controversial Gupta family empire scored billions of rand in alleged deals to assist China South Rail win locomotive tenders from Transnet.
Eskom has also been implicated in state capture by awarding the Gupta-owned mining firm Tegeta Exploration and Resources a 11-year coal supply contract despite the firm not meeting coal specification standards.
Tegeta, formerly partially owned by the Gupta family and President Jacob Zuma's son Duduzane, is under forensic investigation pertaining to the manner in which the contract was awarded and also whether the Gupta family and associates received favourable advantage.
Last month, the Guptas sold its interest in Tegeta to little-known Swiss-based Charles King SA for R2.97 billion in a bid "to save employees’ jobs".
"With regard to Eskom, in particular, as the country's national electricity is a strategic asset and due to multiple governance and operational failures, and a stretched balance sheet, now represents systemic risk to the economy as a whole," Mohale said.
"Until and unless a non-conflicted, experienced and permanent chairman and board are appointed - who in turn appoint an experienced and honest executive team - Eskom will loom large over the economy as a threat to stability and economic growth."
Mohale said there were thousands of honest Eskom employees "doing honest and brave work in the face of a seemingly endless pattern of corruption at the top".
BLSA reiterated its call for government to proceed expeditiously in setting up the judicial investigation into State Capture recommended nearly a year ago by then public protector Thuli Madonsela.
Last week, BLSA also suspended the membership of KPMG (SA) pending the outcome of an independent investigation into the organisation’s involvement in conduct related to “state capture” in South Africa.