Debt-stricken state power utility Eskom reported a record loss of R20.7-billion on Tuesday, highlighting the severity of the threat it poses to South Africa’s economy.
Browsing: Jabu Mabuza
Embattled state power utility Eskom will be temporarily led by Jabu Mabuza, its chairman, who will take over the roles of interim executive chairman and acting CEO starting from next month.
South Africa’s anti-graft ombudsman is investigating Eskom’s deals with 27 independent power producers, Independent Online reported, citing a leaked document.
Telkom CEO Sipho Maseko earned total remuneration of R23.2-million in the 2019 financial year, down from R27.2-million in 2018, mainly as a result of fewer shares that vested to him in the period.
A proposal by the biggest owner of Eskom’s debt to convert its R88-billion holding into equity has become a rescue option as South Africa seeks to restructure the troubled power utility.
Jabu Mabuza, chairman of the South African power utility regarded as the biggest risk to the nation’s economy, has taken on a non-executive director role at pay-television company MultiChoice Group.
Government is putting the final touches on a R230-billion bailout package intended to get its debt-stricken state power utility back on track. Except it won’t be nearly enough.
South Africa has no option but to increase financial support for Eskom even while pushing for reforms at the stricken state-owned power utility, according to national treasury director-general Dondo Mogajane.
While state-owned enterprises such as Eskom, SAA and the SABC continue to make headlines for all the wrong reasons, one (partially) state-owned company is doing quite well, thank you very much. By Duncan McLeod.
Eskom has a plan to keep the lights on for the rest of the year – or, in the worst-case scenario, to implement only stage-one rotational load shedding. Here’s how it intends achieving this promise.