Jabu Mabuza new Board Chairperson at Eskom

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Eskom  has announced Jabu Mabuza as it’s the new Board Chairperson, following confirmation on Saturday of the resignation of Zethembe Khoza.

Mabuza replaces Zethemebe Khoza, who tendered his resignation to Public Enterprises Minister Lynne brown on Friday.

Finance Minister Malusi Gigaba and Deputy President Cyril Ramaphosa have been working against a tight deadline, on installing a new board for the embattled power utility.

Government announced the new board members with the aim of stabilising the troubled power utility.

The new board also includes prominent health academic, Professor Malegapuru Makgoba.

Government has recommended that the new Eskom board choose Phakamane Hadebe, a former Land Bank CEO and top manager at Absa, as acting group chief execuive.

The board is also directed to appoint a new group chief financial officer for the parastatal within three months.

Eskom has only days before it must make a large interest payment to bond holders with the recall of short term loans also looming shortly.

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Click below to read: Presidency’s statement on Eskom from SABC News