The top job at one of South Africa’s biggest and most-troubled companies is open again for the 11th time in a decade and it’s unclear anyone is ready to fill it.
Browsing: Energy and sustainability
Phakamani Hadebe will step down as CEO of Eskom at the end of July, deepening a crisis that Goldman Sachs has described as the biggest threat to the country’s economy.
As speculation swirls about plans to deal with Eskom’s crippling debt load, one group of stakeholders hasn’t been consulted: owners of the company’s R243-billion of bonds.
Green buildings are increasingly in demand in the face of concerns around Eskom’s ability to supply power.
Eskom’s debt burden, described by Goldman Sachs Group as the biggest threat to the nation’s economy, has burgeoned, compounding the difficulty the government faces in formulating a turnaround plan.
Forward-thinking businesses in South Africa are now starting to confront life without Eskom by putting plans in place to generate their own energy.
President Cyril Ramaphosa said the government won’t cut jobs at state power utility Eskom as it divides the company into three separate businesses.
South Africa’s largest labour federation is prepared to discuss reducing workers at the nation’s power utility if it’s given proof of overstaffing and that job cuts would save Eskom.
Eskom “isn’t on the brink of financial collapse” and the government has the problem “well under control”, public enterprises minister Pravin Gordhan has said.
Less than a week after the CEO of Eskom declared “the days of surprises are over”, documents show the government was forced to pay R5-billion in emergency funds so the utility could meet obligations.