Eskom has reported a loss of R20.7 billion in the 2018/2019 financial year.
Eskom is expected to announce its 2018-2019 integrated annual financial results at the power utility’s Megawatts Park headquarters in Sunninghill, north of Johannesburg on Tuesday.
The Public Enterprises Ministry says the appointment of Jabu Mabuza as both the Acting Chair of Eskom and the Acting Group Chief Executive Officer (GCEO) is to bring about stability at the power utility that would allow for a Chief Restructuring Officer (CRO) to be appointed and unbundling plans to continue.
Public Enterprises Minister Pravin Gordhan has issued a statement on the appointment of Jabu Mabuza as the Interim Executive Chairman for Eskom and Acting CEO of Eskom Holdings.
Eskom Board Chairperson Jabu Mabuza says following a cost benefit analysis review, Eskom has decided that it will be more beneficial to the country to continue with the new build program.