Phakamani Hadebe is leaving due to health reasons, the Johannesburg-based company said in a statement published on Twitter. “It is no secret that this role comes with unimaginable demands which have unfortunately had a negative impact on my health,” Hadebe said in the statement.
Eskom is groaning under almost 500 billion rand of bond and loan debt, according to data compiled by Bloomberg, and isn’t selling enough electricity to cover its operating and borrowing costs. President Cyril Ramaphosa insists that Eskom is “too big to fail” and the government has already given the company a three-year 69 billion rand bailout. With the nation’s finances stretched to the limit, the Treasury has limited scope to continue bailing the company out.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Eskom CEO Phakamani Hadebe steps down due to health reasonsEskom chief executive Phakamani Hadebe has resigned from the company. The state owned entity announced on Friday that Hadebe will be stepping down at the end of July. Hadebe leaves after the company plunged the country into crisis following rolling power cuts, which resulted in the economy losing billions of rands and shedding jobs. High blood running amok?
Source: SowetanLIVE - 🏆 13. / 63 Read more »