Roshila Pillay
In what national electricity supplier Eskom views as an indication to the world that South Africa produces world-class businesses, the company was last week awarded the Power Company of the Year award in the Financial Times' annual Global Energy Awards.
Eskom's chief executive, Thulani Gcabashe, says: "The award has placed Eskom firmly in the international arena as a company of truly global stature."
Dr Steve Lennon, the executive director for resources and strategy at Eskom, says the award came at the right time to boost hopes about the weakening rand.
"The award comes at a time when the nation is depressed about the falling rand due to negative sentiment about the economy and the lack of investor confidence. This sends out positive messages about what new businesses in South Africa can do," he says.
Eskom was pitted against tough, established international competition, including Electricite de France, which is three times the size of Eskom, and which Lennon says is regarded as a leading roleplayer, not least due to its operations in many European and African countries.
"The competition, in a nutshell, was the creme de la creme of energy companies," commented Lennon.
While Eskom delivers the lowest-cost electricity in the world, some of the company's actions in the past have been construed as ruthless.
Residents in townships where cutoffs took place when they failed to pay their electricity bills have condemned Eskom's actions.