New data sheds light on load-shedding under de Ruyter’s leadership – worst since 2007
“Many energy experts said De Ruyter was out of touch with what was happening on the ground at Eskom. They were proven right by the CSIR’s data.”
“Many energy experts said De Ruyter was out of touch with what was happening on the ground at Eskom. They were proven right by the CSIR’s data.”
This week, outgoing Eskom CEO Phakamani Hadebe informed a group of journalists that the power utility was “facing a death spiral.”
Eskom reported a record annual loss of R20.7bn but its dollar bonds rallied on optimism that it is starting to stem the bleeding.
Within the three month period during which Jabu Mabuza will be the Executive Chairman and Acting CEO, the Eskom board will conclude the process of identifying a suitable candidate to become the next Eskom GCEO.
The South African Reserve Bank has cut its benchmark interest rate for the first time since March 2018 as it almost halved its economic growth forecast for the year.
Eskom was already searching for a chief executive officer and an executive to lead a turnaround of the company. It will now have to cast its net even wider to include a treasurer.
More dirty laundry will be publicly aired today when Dan Matjila, the former chief executive of South Africa’s Public Investment Corporation, takes the stand at the PIC Commission of Inquiry.
Eskom will name an acting chief executive officer when incumbent Phakamani Hadebe steps down at the end of the month.
South African Airways Chief Executive Officer Vuyani Jarana quit the financially stricken state-owned company, citing a lack of funding and drop in government support for the carrier’s turnaround plan.
There are few obvious choices for the next Eskom CEO to come from within the ranks. Two possible candidates are CFO Calib Cassim and COO Jan Oberholzer.