Photo by: Duane Daws
State-owned power provider Eskom has appointed Andre Pillay as its treasurer, putting him in charge of the beleaguered parastatal’s R327-billion funding programme.
Prior to the appointment, which was effective September 1, Pillay had been a senior manager in Eskom’s treasury department since 2011. He was responsible for negotiating funding with export credit agencies and development funding institutions. He also oversaw the registration and execution of the current global medium-term note, as well as the domestic medium-term note.
“We are pleased to appoint Pillay as the treasurer. He has the requisite experience and knowledge of Eskom and the markets to perform his new role with distinction,” said Eskom CFO Anoj Singh.
Pillay, who has over 15 years’ experience in the fixed-income market, has been exposed to the money and capital markets. He also has trading experience in the bond and interest rate derivative markets. In the private sector, he was a bond portfolio manager and also responsible for asset liability matching.
Moreover, Pillay spent five years at the South Africa National Treasury as chief director responsible for liability management. In 2009, he joined the South African Reserve Bank as head of reserves management.
As at the end of August, Eskom had available liquidity of about R38-billion and had secured more than 57% of its borrowing requirement of R69-billion for the financial year 2016/17.