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SA serious about growing economy: Gigaba

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Finance Minister Malusi Gigaba says government’s decisive action at Eskom is aimed at showing investors that South Africa is serious about growing its economy.

Gigaba is part of Deputy President Cyril Ramaphosa’s entourage to the World Economic Forum in Davos, Switzerland.

Eskom appointed a new board at the weekend and Telkom chair Jabu Mabuza as the power utility’s new chairperson.

Mabuza has replaced Zithembe Khoza who has resigned.

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

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

Government has also directed Eskom to appoint a new group chief financial officer within three months.

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