Tsholofelo Molefe will take over as Telkom’s group chief financial officer on 1 July, replacing long-serving company executive Deon Fredericks, who moves into the newly created role of chief investment officer
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Stage two rolling blackouts were scheduled for Wednesday, Eskom said. “Eskom will implement stage two load shedding from 4pm today, which is likely to continue until 10pm this evening,” the power utility said in a statement. “This is due to a shortage of generation
Eskom board chairman Zola Tsotsi has not been removed, the power utility said on Wednesday. Eskom’s media desk was responding to questions on a report that the four executives, suspended earlier this month, were removed because they initiated an audit of the
Standard & Poor’s (S&P) has downgraded Eskom’s long-term credit rating to BB+ following the suspension of four of its senior officials, it said on Thursday. This had led the ratings agency to have less confidence in the company’s corporate governance arrangements
Four senior Eskom executives, including CEO Tshediso Matona, have been asked to step aside as the power utility embarks on a fact-finding inquiry, board chairman Zola Tsotsi said on Thursday. “To
Eskom on Thursday announced that it has asked its CEO Tshediso Matona and two other executives to “step aside” while an inquiry into the parastatal is conducted. Matona has been in the top job at Eskom for only six months. Before joining Eskom, he
A plan is in the making for Eskom’s financial and operational recovery, public enterprises minister Lynne Brown said in Johannesburg on Tuesday. “Yesterday, the Eskom leadership and the leading global expert on the subject walked me through the very latest analysis of the road ahead,” she said. “The expert
Although Eskom turned a R7bn profit according to its results released on Friday, the state-owned entity has warned this will not be sufficient to plug the R225bn revenue shortfall it faces over the next five years. The country, in the meantime, faces continued power constraints as the first unit of new power
Three short years at the helm. This is all it took for outgoing CEO Brian Dames to bring his decades-long career at national power utility Eskom to a close. Dames, who was appointed as CEO in 2010, and his erstwhile finance director Paul O’Flaherty, appointed in 2009, were the men brought