Eskom Chief Executive Officer Phakamani Hadebe has resigned. His resignation has been confirmed by the chairperson of the Eskom board on Friday.

Hadebe says the stress of the job had negative effects on his health.

The Eskom Board has accepted his resignation and praised Hadebe for driving transformation at the cash-strapped power utility.

Eskom’s massive debts that now total well over 400 billion rand is considered the greatest threat to South Africa’s already fragile economy.

Early in 2019 Hadebe warned that the power utility was teetered on the edge of a debt trap.

Eskom produces 90% of the country’s electricity.