Business News

Mabuza’s appointment aimed at bringing stability at Eskom

SABC News  Jabu Mabuza - Mabuza’s appointment aimed at bringing stability at Eskom

The Public Enterprises Ministry says the appointment of Jabu Mabuza as both the Acting Chair of Eskom, and the Acting Group Chief Executive Officer (GCEO) is to bring about stability at the power utility that would allow for a Chief Restructuring Officer (CRO) to be appointed and unbundling plans to continue.

 

Mabuza’s appointment was announced by Public Enterprises Minister Pravin Gordhan following the resignation of Phakamani Hadebe, who leaves the power utility on Tuesday.

Mabuza will assume the dual-role of GCEO and Executive Chairperson for a three month period while a new Group CEO is found.

As the power utility battles to keep the lights on, government has allocated a total of close to R130 billion to the utility over the next three years.

 

Public enterprises spokesperson Adrian Lackay says, “Eskom is in a bit of an emergency situation. There are very tough and urgent measures that must be implemented regarding Eskom. The utility must separate its business divisions into three separate entities. We await the appointment of a chief restructuring officer.”

“Eskom has big problems but a decision must be made and it’s absolutely essential at the moment that for an interim period there’s some kind of stability [and] knowledgeable leadership, hopefully to a point where a good CEO can be found and successfully appointed, that could then take the organisation forward to the next steps where it should go,” adds Lackay.

The post Mabuza’s appointment aimed at bringing stability at Eskom appeared first on SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader..

Leave a Reply

Your email address will not be published. Required fields are marked *