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Energy

Eskom  revenue decreased by 2% to ZAR96 billion

Wednesday, January 31st, 2018

Eskom revenue decreased by 2% to ZAR96 billion

Whilst Eskom’s operational performance remained strong for the six months ending on 30 September 2017, the company is facing significant financial challenges going forward. This was announced on 30 January 2018 during the Eskom 2017 Interim Results, held at Megawatt Park, Sunninghill, South Africa. The company achieved generation plant availability of 83.2% against a target

Eskom faces significant financial challenges

Tuesday, January 30th, 2018

Eskom faces significant financial challenges

Phakamani Hadebe, Eskom Group Interim Chief Executive Officer conceded today, 30 January 2018, that the state-owned company was facing significant financial challenges stemming from poor leadership, lack of proper corporate governance and its weak capital structure. “We...

Moody’s downgrades Eskom credit rating again

Monday, January 29th, 2018

Moody’s downgrades Eskom credit rating again

Moody’s Investor Services (Moody’s) has downgraded to ‘B1 from Ba3’ the long-term corporate family rating (CFR) of Eskom; the zero coupon eurobonds rating has similarly been revised to ‘B1’ from ‘Ba3’ in line with the CFR and...

South African Public Enterprises Minister meets new Eskom Board Chairman

Wednesday, January 24th, 2018

South African Public Enterprises Minister meets new Eskom Board Chairman

South African Public Enterprises Minister Lynne Brown met with newly appointed board chairman of South Africa’s biggest state-owned company, Eskom today, 24 January 2018. Jabu Mabuza’s appointment was announced at the weekend. A new chief executive officer,...

Matshela Koko implicates former Eskom colleagues

Wednesday, January 24th, 2018

Matshela Koko implicates former Eskom colleagues

Matshela Koko, Eskom Group Head of Generation today, 24 January 2018, implicated former colleagues in corruption, during his testimony before the parliamentary inquiry into the power utility. He claimed that he was victimised because he sought to...

Business Leadership South Africa calls for Matshela Koko to resign from Eskom

Wednesday, January 24th, 2018

Business Leadership South Africa calls for Matshela Koko to resign from Eskom

Business Leadership South Africa (BLSA) welcomes the resignations of Anoj Singh as Chief Financial Officer and Prish Govender as the Acting Head of Group Capital at Eskom. The BLSA now calls on Matshela Koko, Eskom Group Executive...

Nersa to host Eskom RCA application public hearings

Wednesday, January 24th, 2018

Nersa to host Eskom RCA application public hearings

The National Energy Regulator of South Africa (Nersa) will host nationwide public hearings into power utility Eskom’s Regulatory Clearing Account (RCA) applications totalling ZAR66.6 billion. Nersa today, 24 January 2018, published Eskom’s third multi-year determination (MYPD3) Regulatory...

OUTA – Anoj Singh should lose accounting licence

Tuesday, January 23rd, 2018

OUTA – Anoj Singh should lose accounting licence

Anoj Singh’s resignation should not allow him to avoid being held to account for the plundering of Eskom. “Anoj Singh is a wrecking ball. This man should never practice as an accountant again,” says Dominique Msibi, OUTA’s...

Anoj Singh officially resigns from Eskom Group

Tuesday, January 23rd, 2018

Anoj Singh officially resigns from Eskom Group

Suspended Eskom Group Chief Financial Officer (CFO), Anoj Singh, resigned on 22 January 2018, South Africa’s power utility officially announced. “Eskom has today received, through Anoj Singh’s attorneys, a formal letter of resignation by Mr Singh from...

Black Business Council welcomes appointment of new Eskom board

Monday, January 22nd, 2018

Black Business Council welcomes appointment of new Eskom board

The Black Business Council welcomes the appointment of the new board at ESKOM and the inclusion of its Secretary General, George Sebulela. The government has taken the bull by its horns by terminating the term of the...

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