New Eskom board chairperson to be announced

Former finance minister Nhlanhla Nene and current Telkom chair Jabu Mabuza were on Friday night being considered to take over as chairman of the Eskom board.

The move comes after Deputy President Cyril Ramaphosa had harsh words over the state of the cash-strapped power utility during his political overview at the ANC NEC meeting on Friday night.

Reports on Saturday sought to confirm Nene had been appointed‚ with some reports saying he had. However‚ TimeLIVE has established that he is merely one of the candidates touted for the position.

Both Nene and Mabuza were lobbied for on Friday night at a high-level meeting which included Ramaphosa‚ President Jacob Zuma as well as Finance Minister Malusi Gigaba and Public Enterprises minister Lynne Brown.

It is believed that both Ramaphosa and Gigaba want the Eskom board chair appointed before they leave for Davos on Sunday. Eskom has only days before it must make a large interest payment to bond holders with the recall of short term loans also looming.

An official announcement is expected later on Saturday.

Meanwhile current Eskom chair Zethemba Khoza has submitted his resignation.

Khoza told Fin24 on Saturday that he had sent a letter of resignation to Brown on Friday.

According to the report he was still waiting for Brown to accept his resignation.

“I think it’s in [the] good interest of the country…after all the noise‚ it’s better for me‚” Fin24 quoted him as saying.

This is a developing story.

Editorial Note: TimesLIVE erroneously reported that former finance minister Nhlanhla Nene had been appointed as the new Eskom chairman. However‚ it has since been established that he is merely one of the candidates being considered for the the position.  

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