Eskom news

Sources on the board of Eskom believe that chief financial officer Calib Cassim will take over as the next CEO.

On Thursday, Minister in the Presidency Mondli Gungubele, said: “The government assures South Africans that there will be no leadership vacuum. Zondo gave Eskom all the evidence and that still needs to be followed. There are concerns that the new leadership that comes up needs to align with the minister that will be taking over from Gordhan. “The beauty of the state of disaster is that the utility can bypass the rules including the PFMA [Public Financial Management Act] of hiring because we are in a crisis. Makwana took up the position of chairperson in October last year. “Ramokgopa is a great candidate at this time because he can manage to hold on to the chief executive [post] until one is appointed. Ramaphosa announced during his state of the nation address earlier this month that a new electricity minister position would be created in the presidency. But he chose not to take up the mantle meaning Cassim would be next in line. So any hiring involved in the state of disaster cannot be challenged because it was a decision taken to resolve the crisis. His notice period was three months and the last day was set to be 31 March 2023. The utility effectively put the country in stage seven load-shedding without openly saying so. His actions angered Public Enterprises Minister Pravin Gordhan who attacked him for “meddling” in politics instead of focusing on ending load-shedding.

Premier Alan Winde has expressed his dismay at Andre de Ruyter's immediate termination as Eskom's Group Chief Executive. “It is clear Mr. de Ruyter was forced ...

Under his leadership, he tried to introduce much-needed reforms to make Eskom sustainable and competitive”. de Ruyter had his work cut out for him in saving the power utility from total collapse. Eskom must rescue what remains of its generation capacity from total collapse and a proactive and consistent maintenance plan is critical.”

South Africa's African National Congress has mounted a scathing attack on the outgoing chief executive of the blackout-prone Eskom, who was ousted after he ...

For cost savings, you can change your plan at any time online in the “Settings & Account” section. Compare Standard and Premium Digital For a full comparison of Standard and Premium Digital,

Energy expert Chris Yelland believes that the hasty exit of Eskom chief executive Andre de Ruyter is the start of a difficult transition for the embattled ...

Again, that indicates a lack of action, a lack of certainty – and that’s the danger for South Africa.” Regarding de Ruyter’s replacement, Yelland said the big fear is that the next chief executive will be a political appointment. Gordhan, along with other senior government officials and the Eskom board had already long-abandoned their political support of De Ruyter. The level of political intervention has already started, and the first casualty in this step backwards, I think, is going to be the flow of information.” We are seeing a lot of political intervention at the moment, and this is more about vote-shedding than it is about load shedding,” Yelland said. The group also received a new board in the latter months of 2022.

Government plans to take on 254 bln rand of Eskom debt · Eskom bonds rally sharply · Multiple credit rating upgrades expected.

The Eskom debt relief package will increase borrowings and debt-servicing costs – risks that may ultimately be cushioned by the positive economic growth ...

The views of columnists published on News24 are therefore their own and do not necessarily represent the views of News24. Against a decidedly tenuous domestic backdrop, the budget provides the necessary reassurance of National Treasury’s fiscal consolidation effort. News24 encourages freedom of speech and the expression of diverse views. However, we account for this as a permanent disbursement in our fiscal modelling, with it likely to eventually form the foundation of a BIG. A cumulative R95 billion unallocated/contingency reserve has been provisioned in the medium-term, which will serve to cushion some, but not all, of the inevitable expenditure risk. The impasse between organised labour and the Ministry of Public Service and Administration remains the immediate litmus test for government’s resolve to withstand expenditure pressure.

Investors welcomed plans by government to take on 60% of Eskom's debt over the next three years.

“It’s highly likely that it’s credit positive for Eskom and credit-neutral for the sovereign,” Jones Gondo, an analyst at Nedbank, said of the plan. Eskom’s international dollar bonds rallied for a second day on Thursday, with the 2025 and 2028 maturities that don’t have government guarantees chalking up the biggest gains. “We are certain that government is actually serious about turning around Eskom.” “Interest costs should come down and that should make Eskom a viable … Treasury said that it would settle R184-billion that Eskom owes over the next three years via a loan that converts to equity in the utility and then take on R70-billion rand of debt directly in the 2025/2026 financial year. Government, which has struggled for years to overhaul the power firm, plans to take on R254-billion of Eskom’s R423-billion debt that national treasury said was at risk of default.

A 254 billion-rand ($14 billion) state bailout for South Africa's cash-strapped power utility will help steady its finances, but won't immediately improve ...

Secretary general gives De Ruyter 10 days to produce evidence for claims of corrupt ANC leaders in Eskom accusing him of meddling in politics.

It is a forte of the governing party and its ideological perspective on how to best ensure equitable access to electricity as a public good.” He has completely failed to deliver on this contractual obligation. venture into the political arena has unmasked his regressive political and ideological agenda. public enterprise that provides the country with stable, reliable electricity. He must prove what he said,” the ruling party’s chief administrator added. “We regarded De Ruyter as a patriot.

Analysts believe that the power utility is the epitome of corruption, maladministration and political interference. Screengrab of outgoing Eskom CEO, ...

As board members 90% of what he shared with the South African public we heard for the first time". So he'd rather go and play to the gallery in a public interview when you have not even tabled any of those matters before your board. "It is unpalatable for any chief executive that has the platform to have a one-on-one with a chair of the board that has full access to the shareholder, that has full access, in this case, all the key players that he mentioned in the interview. Makwana accused De Ruyter of publicly playing to the gallery and not raising the concerns with the entity formally. “They are going to find it very difficult to find somebody who has got the strength and the courage to do what has to be done and to fix Eskom and I am afraid that they are not going to put somebody there who is going to challenge them, they are going to put someone who is going to bow down to their needs,” he said adding that “Eskom will forever be trapped in corruption, sabotage and maladministration because of the political interference”. JOHANNESBURG - Now that the biggest power utility in southern Africa is leaderless, political parties, analysts and civil society organisations believe that the hasty exit of Eskom CEO Andre de Ruyter is the start of a difficult transition for the embattled company.

South Africa's government said on Thursday that there would not be a leadership vacuum at state utility Eskom a day after the company's board asked CEO ...

Eskom board chairperson Mpho Makwana says the ousted CEO André de Ruyter never once raised corruption allegations against an undisclosed minister to the ...

“Ninety percent of what he shared with the public, we heard for the first time in that interview… He also said criminal syndicates in Mpumalanga were benefiting improperly, to the tune of about R1bn per month. Replying to the allegations, Makwana said because De Ruyter knew the name of the politician, he should have reported the matter to the police. In his interview with eNCA, De Ruyter said he raised his concerns with a minister about a high-level politician who was involved in sinister and potentially criminal activities at the utility and nothing was done about it. In the e.tv interview, de Ruyter said the ANC was feeding at the trough at Eskom and he said an undisclosed minister was benefiting from corruption at Eskom. Makwana has also revealed that de Ruyter handed in his resignation in December, just days before he was due to a performance review with the board.

The committee said on Thursday while it noted the claims made by De Ruyter it wanted to follow up and ensure that those who were involved were held accountable.

“As the committee with a constitutional responsibility of oversight over Eskom, we can’t ignore those serious allegations. [dragged through the mud by De Ruyter](https://www.iol.co.za/news/politics/former-eskom-ceo-andre-de-ruyter-says-hes-leaving-sa-due-to-safety-concerns-in-wake-of-his-damning-claims-b9581a01-f488-4b65-bea2-ffbfc13cbe8e). [ANC secretary-general Fikile Mbalula had earlier thrown down the gauntlet](https://www.iol.co.za/news/politics/anc-takes-andre-de-ruyter-to-court-over-graft-allegations-at-eskom-71ba1328-b507-424f-8cf4-b88b9267b125), calling on De Ruyter to substantiate the allegations of corruption he made against the ANC. [ the decision of the board for De Ruyter to leave immediately](https://www.iol.co.za/news/politics/andre-de-ruyter-leaves-eskom-with-immediate-effect-289ea371-3ed3-431e-b89d-84394417614b). [allegations made by former Eskom CEO Andre de Ruyter](https://www.iol.co.za/news/politics/andre-de-ruyter-speaks-out-on-graft-at-eskom-says-politicians-using-power-utility-as-feeding-trough-for-the-anc-47fdb24a-c0ac-4f50-9c25-a01fa73d0288). The committee said on Thursday while it noted the claims made by De Ruyter it wanted to follow up and ensure that those who were involved were held accountable.

ANC leaders launched a broadside political attack on De Ruyter while defending the ruling party against claims that it failed to act on corruption allegations ...

South African society is split right down the middle over the corruption allegations he made, which exposed how the state had been captured and raised fears ...

“Zondo gave Eskom all the evidence, and that still needs to be followed. During the interview, De Ruyter made a litany of allegations. “I find that, unless he can demonstrate evidence, this is insulting.

De Ruyter said in an interview that Eskom was losing about R1bn a month due to graft and theft.

Connection is secure Checking if the site connection is secure Occasionally, you may see this page while the site ensures that the connection is secure.

South Africa's power utility Eskom announced the appointment of Calib Cassim as Interim Group Chief Executive Officer replacing de Ruyter.

Based on the board meeting, de Ruyter’s last day with Eskom is 28 February. [Eskom only one to hit ‘like’ on electricity tariff hike](https://www.esi-africa.com/industry-sectors/finance-and-policy/eskom-only-one-to-hit-like-on-electricity-tariff-hike/) [Backup options in the face of loadshedding](https://www.esi-africa.com/industry-sectors/customer-services/unpacking-backup-options-in-the-face-of-loadshedding/) [Zambia invests in solar plant to combat power outages](https://www.esi-africa.com/southern-africa/zambia-invests-in-solar-plant-to-combat-power-outages/) [Cassim](https://www.esi-africa.com/tag/calib-cassim/), who has over 20 years of service in [Eskom](https://www.esi-africa.com/tag/eskom/), was appointed as Eskom’s Chief Financial Officer (CFO) in November 2018 after serving as Acting CFO from July 2017. [loadshedding](https://www.esi-africa.com/tag/loadshedding/) and stabilise [electricity supply in South Africa](https://www.esi-africa.com/tag/south-africa/). However, on Tuesday evening, Eskom announced that [News and opinions about Eskom](https://www.esi-africa.com/tag/eskom/) [2023 Budget allocates debt relief to Eskom](https://www.esi-africa.com/industry-sectors/finance-and-policy/not-an-austerity-budget-godongwana-allocates-debt-relief-to-eskom/) [Op-Ed: What caused the current Eskom crisis?](https://www.esi-africa.com/top-stories/op-ed-what-caused-the-current-eskom-crisis/)

Eskom chief financial officer Calib Cassim has been appointed as interim CEO following the abrupt departure of André de Ruyter.

Cassim has been with Eskom since 2001, and was a former head of the utility's regulation department. Singh, formerly a Transnet executive, is currently out on bail following charges of corruption during his time at the rail company. He has a master's degree in Business Leadership. A chartered account, Cassim completed his BCom at the University of Natal and his honours at Unisa. [followed an explosive interview](https://www.news24.com/news24/southafrica/news/eskom-firestorm-de-ruyter-leaves-crumbling-parastatal-after-stunning-attack-on-anc-government-20230223) in which De Ruyter said a "senior politician" was involved in corruption at Eskom. "With over 20 years of service in Eskom, his qualifications and extensive experience have provided Mr Cassim with a deep understanding and appreciation of the Eskom business and the electricity industry, especially regarding the challenges facing the financing of operations and future expansion of the industry," Eskom said.

Embattled national power utility Eskom has announced the appointment of Calib Cassim as the interim group CEO with immediate effect.

On 22 February, the Eskom board and de Ruyter reached a mutual agreement to curtail his notice period. He has over 20 years of service at Eskom. [A](https://businesstech.co.za/news/government/667597/anc-hits-back-at-de-ruyter-show-us-the-evidence/) [NC hits back at De Ruyter – show us the evidence](https://businesstech.co.za/news/government/667597/anc-hits-back-at-de-ruyter-show-us-the-evidence/)

SARS Commissioner Edward Kieswetter has categorically ruled out the possibility of taking over as CEO of Eskom.

He worked for the power utility for eight years and three months, before moving to FirstRand Bank. Kieswetter told News24 on Friday that he had just over one year left at the helm of SARS and was ready to bow out after that. Kieswetter previously worked as a training manager for Eskom.

The appointment comes a day after the board said it had reached a "mutual agreement" with Andre De Ruyter that he should exit immediately.

He also spoke of an attempt to poison him last year, and the allegedly incompetent police detectives who were sent to take his statement. He also threatened to take legal action against De Ruyter. ANC secretary-general, Fikile Mbalula, hit back at De Ruyter during a press briefing on Thursday, calling his views anti-revolutionary and saying his ideology was “right wing”.

Cassim served as the power utility's chief financial officer in 2018, and has been appointed interim group CEO with immediate effect.

"With over 20 years of service in Eskom, his qualifications and extensive experience have provided Mr. JOHANNESBURG - Following the dramatic exit of former CEO André de Ruyter, Eskom has appointed Calib Cassim as its interim group CEO. Cassim served as the power utility's chief financial officer in 2018, and has been appointed interim group CEO with immediate effect.

Cassim was appointed as Eskom's chief financial officer (CFO) in November, 2018, after he served as its acting CFO from July 2017. A stalwart of the power ...

He has a master's degree in Business Leadership. He also said the undisclosed leaders from the ANC were aware of corruption that was happening at Eskom and also that the utility serves as the ANC’s “feeding trough”. De Ruyter, in the interview which aired on Tuesday night, said there was rampant corruption at the power utility and he said undisclosed ministers were interfering with operations at the ailing power utility. The new energy boss has been with Eskom since 2001, and was a former head of the utility's regulation department. A stalwart of the power utility, Eskom said, “with over 20 years of service in Eskom, his qualifications and extensive experience have provided Cassim with a deep understanding and appreciation of the Eskom business and the electricity industry, especially regarding the challenges facing the financing of operations and future expansion of the industry.” As the fallout from De Ruyter’s interview continued, the board of Eskom announced that the CEO would leave the state-owned entity with immediate effect.

Ratings agency Fitch says Treasury's plan to take on R254 billion of Eskom's debt is broadly in line with its expectations, but it expressed concerns that ...

These amount to R78 billion in 2023/24, R66 billion in 2024/25, and R40 billion in 2025/26. "Continued stronger performance of revenue in line with government projections would be a favourable development. "The support for Eskom … "This illustrates the government’s commitment to expenditure control, and strike action in 2022 fizzled out without major disruption, but low wage growth could be difficult to sustain ahead of the 2024 parliamentary election. "This means total SOE support under the Budget is broadly in line with our assumption and as such is factored into our ratings, although the risk remains that further SOE support may be needed." Finance Minister Enoch Godongwana tabled the Budget on Wednesday.