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The coronavirus crisis is undermining the business plan and turnaround strategy at the Nuclear Energy Corporation of South Africa. The resulting losses are creating debilitating divisions between labour, middle and senior management, executives and boards of Necsa and its subsidiaries – as well as wage increases

Following a tumultuous operational and management period for several years, with massive financial losses, new Nuclear Energy Corporation of South Africa (Necsa) chairperson David Nicholls and acting CEO Ayanda Myoli presented a restructuring and turnaround plan to Parliament on 20 May 2020………

While many considered the turnaround plan to be hopelessly optimistic even before the Covid-19 crisis in South Africa from March 2020, the impact of the national and international lockdowns are estimated to have resulted in the Necsa group taking a massive hit, which would increase the expected loss for 2020/21 to more than R300-million. ……

While many considered the turnaround plan to be hopelessly optimistic even before the Covid-19 crisis in South Africa from March 2020, the impact of the national and international lockdowns are estimated to have resulted in the Necsa group taking a massive hit, which would increase the expected loss for 2020/21 to more than R300-million. https://www.dailymaverick.co.za/article/2020-11-05-covid-19-divides-and-weakens-the-nuclear-sector-in-south-africa/