Eskom chair hands in resignation

Eskom chairperson Zethemba Khoza has handed in his resignation, according to a report by Fin24.

According to Fin24, Khosa has handed in his resignation to Public Enterprises Minister Lynne Brown “in the good interest of the country”.

“I was putting out fires on a daily basis, so I think it’s good to give new people a chance”, Khoza was quoted as saying.

IOL could not independently confirm the report as yet.

Finance Minister Malusi Gigaba has also vowed to take unspecified action against beleaguered Eskom, saying the problems facing the power utility were huge and needed urgent steps.

Addressing a breakfast briefing in Sandton earlier this week in Sandton, Gigaba and Ramaphosa were candid about the risks Eskom’s woes posed to the country.

“There would be no currency, and no economy for the country if Eskom went belly-up,” said Gigaba.

Eskom’s financial problems and alleged poor governance have come under the spotlight recently. The utility is under pressure to release long-delayed interim results for the six months ended September last year. The JSE has threatened to suspend the Eskom bonds if the utility fails to publish the results by month-end.

Addressing the media at the pre-WEF briefing, Gigaba said: “The urgency to act with speed has been magnified by the problems brought to our attention recently.”

He said the new information, which he did not disclose, was brought to him on Wednesday.

“We have been trying to deal with these issues. We have reached a stage where we cannot continue to be gradualist in addressing the problems that Eskom is facing,” he said.

He said there were Eskom board members and senior management who did not grasp the seriousness of the problems the power supplier was facing “or who live in their own world with regard to those challenges,” he said.

IOL and Business Report

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