On Saturday, Cyril Ramaphosa gave millions of South Africans a fresh injection of hope with the announcement of a new board and acting CEO for Eskom. The presidency announced that Jabu Mabuza, who enjoys a reputation for strong ethics, will be the new chairman of Eskom, and recommended the appointment of Phakamani Hadebe as the acting CEO.
Most delightfully, for those concerned about corruption at the state-owned utility, the presidency added, “The board is directed to immediately remove all Eskom executives who are facing allegations of serious corruption and other acts of impropriety, including Mr Matshela Koko and Mr Anoj Singh.”
Koko, however, has said he will be going to work today and waiting to hear from the board. Seems like it might be a rather awkward day at the office.
In Premium today, you can read the transcript of last week’s SA Champions portfolio webinar. You can also hear the latest Old Firm podcast with Alec Hogg and David Shapiro (or read the transcript, if you prefer). And in today’s Worldview, I compare the fates of Uber’s Travis Kalanick and the hopefully soon-to-be axed executives at Eskom.