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What now?

By: Terence Creamer     7th June 2019 Then there were ten! In reality, far more than ten individuals have occupied the top job at State-owned electricity utility Eskom over its 96-year history. However, following Thulani Gcabashe’s seven-year tenure, which ended in 2007, the door to the CEO’s office on the third floor at Megawatt... 

PPF calls on President Ramaphosa to convene summit of SA black executives

By: African News Agency      5th June 2019 The Progressive Professionals Forum on Wednesday called on President Cyril Ramaphosa to convene a South African black executives summit which will dissect the state of corporate governance and management of State-owned enterprises. The call comes after the resignations of two black executives,... 

Departures at State firms could drag out Ramaphosa's reforms  

By: Reuters     4th June 2019 President Cyril Ramaphosa's mission to fix two of South Africa's most troubled state companies, power firm Eskom and South African Airways, could take longer than planned after their chief executives quit within a week of each other. Investors say the CEOs' resignations could slow the... 

Jarana’s resignation a sign SAA is almost irredeemable – Outa

By: News24Wire      3rd June 2019 The Organisation Undoing Tax Abuse has responded to South African Airways group CEO Vuyani Jarana’s resignation, saying it is a sign that the national carrier cannot be saved as long as it is wholly State-owned. SAA confirmed Jarana’s resignation on Sunday evening, adding that his four-page... 

SAA's Jarana quits over lack of State support

By: Bloomberg     3rd June 2019 South African Airways (SAA) CEO 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. The former Vodacom Group executive was brought in about 18 months ago to lead a recovery at the airline,... 

Uncertainty around Cabinet delay starts to spook rand

By: News24Wire      28th May 2019 The rand weakened in early trade on Tuesday, with uncertainty around the makeup of South Africa's Cabinet starting to filter into the forex market as the UK and US returned from public holidays on Monday.  At 09:15 the local currency was trading at R14.52/$, down 0.7% on the day.  The rand opened... 

Eskom CEO resigns for health reasons

By: Reuters     26th May 2019 The chief executive of South Africa’s struggling power utility Eskom, Phakamani Hadebe, said on Friday he was stepping down for health reasons after leading efforts to stabilise the highly indebted state firm. Eskom is regularly cited by ratings agencies as one of the main threats to the... 

Eskom keeps investors in the dark as debt speculation mounts 

By: Bloomberg     22nd May 2019 As speculation swirls about plans to deal with Eskom Holdings’ crippling debt load, one group of stakeholders hasn’t been consulted – owners of the company’s R243-billion of bonds. South Africa’s State-owned power utility is groaning under almost R500-billion of bond and loan debt, according to... 

Winter plan: Eskom requires efficient use of electricity

17th May 2019 With colder weather conditions expected across the country and the demand for electricity projected to increase, South Africans can make a huge difference by rallying towards the common cause of using electricity efficiently, which has the potential to reduce demand by up to 500 MW – saving the... 

Finding fossil fuel investors is becoming harder, says Hadebe 

By: Kim Cloete     14th May 2019 With a crackdown on carbon emissions, it is becoming increasingly difficult to find investors that support fossil fuels, says Eskom CEO Phakamani Hadebe. “The truth is, how will we fund fossil fuels if we remain on them? The trend in financial markets is that you see fewer and fewer investors... 

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