Business In The News South Africa

Eskom interim CEO blames “oversight” in friend’s monthly R100k contract

JOHANNESBURG, October 12 – Eskom’s interim group chief executive, Sean Maritz, on Thursday “acknowledged the oversight” in hiring his friend on a R100,000-per-month contract without following proper procedure, but rejected that this was irregular. This comes after weekend media reports that Maritz had previously received a written warning because he did not declare that the lucrative contract was given […]

Business In The News South Africa

Black Business Council says Eskom CEO musical chairs doesn’t inspire confidence

JOHANNESBURG, October 9 – The Black Business Council (BBC) said on Monday that it was concerned by the sudden change of leadership at state-owned power utility Eskom, saying that government must give the enterprise some space and not meddle in its affairs. This comes after Eskom last week appointed its chief information officer and group executive for […]

Business In The News South Africa

Black Business Council meets to discuss leadership crisis at Eskom

JOHANNESBURG, October 9 – The Black Business Council (BBC) is meeting all its national office bearers on Monday to address the parlous state of leadership at Eskom. On Friday Eskom appointed its chief information officer and group executive for information technology, Sean Maritz, as its interim group chief executive in a “rotational basis” of the executive role. “The decision […]

In The News South Africa

SAfrican mineworkers union demands Eskom to ditch rotating CEOs

JOHANNESBURG, October 6 – The National Union of Mineworkers (NUM) on Friday, said that it was highly agitated by the decision of South Africa’s power utility, Eskom’s chairman, Zethembe Khoza to rotate current executives to the role of the company’s group chief executive. This comes after Eskom on Friday appointed its chief information officer and group executive for […]

In The News South Africa

Eskom suspends CFO Anoj Singh and takes disciplinary action against former CEO

JOHANNESBURG, September 29 – South Africa’s state-owned power utility Eskom said on Friday that it has suspended Anoj Singh, its chief financial officer implicated in irregular dealings with the politically-connected Gupta business empire, and taken disciplinary action against former acting chief executive, Matshela Koko. This comes after Public Enterprises Minister Lynne Brown gave Eskom a final […]

Business In The News South Africa

Eskom ‘galloping’ towards financial distress, says NUM

JOHANNESBURG, July 20 – The National Union of Mineworkers (NUM) on Thursday said Eskom was heading for financial distress despite the power utility’s assurances this week that it was on firm financial footing. Eskom released its 2016/17 financial results on Wednesday in which it said earnings before interest, taxes, depreciation and amortisation (EBITDA) surged 14.4 percent to […]