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phakamani hadebelatest news & developments
Rautenbach’s retail track record put him in good stead — and inadequate succession planning helped too. But critics have questioned the appointment of a white man.
ABSA

Absa’s Arrie Rautenbach long game can’t save bank from transformation critics

Rautenbach’s retail track record put him in good stead — and inadequate succession planning helped too

  • Sarah Smit
8 min read
Reality check: Pravin Gordhan has revealed plans to get state-owned entities into better order. Photo: Halden Krog/Bloomberg/Getty Images
BUSINESS RESCUE

Gordhan on SAA, political interference and moving SOEs out of his department

The minister addresses the future of the country’s state-owned entities and speculation they may be moved from his portfolio

  • Sarah Smit
6 min read
President Cyril Ramphosa. (David Harrison)
ANDRE DE RUYTER

In his Sona speech, Ramaphosa must tread the line between promises and reality

South Africa has a slew of service-delivery problems, most notably in the water and electricity sectors. The time for promises is over: what the country needs is action

  • Bongekile Macupe
6 min read
(John McCann/M&G)
COUNTRY

Eskom needs ‘fire and thunder’

The appointment of a chief restructuring officer is a positive step, but it is not a silver bullet for the power utility’s debt burden

  • Lynley Donnelly
6 min read
KwaZulu-Natal residents who are unemployed, financially struggling and hungry have lambasted Eskom’s proposed 36.1% tariff hike. (Dean Hutton/Bloomberg/Getty Images)
COUNTRY

Eskom gets a chief restructuring office amid devastating finance results

SAICA CEO Freeman Nomvalo will head up team to help Eksom reorganise its operational and funding structures

  • Lynley Donnelly
5 min read
Newly appointed acting CEO of Eskom, Jabu Mabuza. (Gallo)
CYRIL RAMAPHOSA

Gordhan appoints Eskom chair, Jabu Mabuza, acting chief executive

The decision comes a day ahead of Eskom’s financial results announcement, which is expected to reveal record-breaking losses

  • Lynley Donnelly
2 min read
Deputy President David Mabuza seems to have the upper hand in the ANC’s ongoing factional battles. (Theana Breugem/ Beeld/Gallo Images)
ANC

Rumours swirl that key SOEs will report to Mabuza

In the past week, factions have used Jarana’s resignation as a tool in a bid to shake the powers of Public Enterprises Minister Pravin Gordhan

  • Sabelo Skiti
3 min read
Phakamani Hadebe was an outsider, whose finance background was seen as a major asset, when he joined Eskom which had problems which were viewed, at the time, as predominantly financial. (Delwyn Verasamy/M&G)
ESKOM

Eskom: The art of steering a sinking ship

The utility is once again in need of a leader who must achieve the near impossible

  • Lynley Donnelly
5 min read
Phakamani Hadebe had been in the role for a little over a year. (Delwyn Verasamy/M&G)
BRIAN MOLEFE

Hadebe resigns from Eskom citing ill health

Phakamani Hadebe is the latest in a series of leaders for the embattled utility, and will bow out at the end of July

  • Lynley Donnelly
2 min read
Phakamani Hadebe had been in the role for a little over a year. (Delwyn Verasamy/M&G)
ESKOM

Hadebe tries to allay fears of job losses in internal Eskom memo

"One of the questions that I hear being asked most often, is: ‘Will I still have a job in this turnaround of Eskom?’," the memo from Hadebe read

  • Lameez Omarjee
3 min read
Fresh rounds of stage four load-shedding this week again drove home the precarious state of Eskom’s operations (John McCann)
CYRIL RAMAPHOSA

Outages: Problems and solutions

The government has introduced a range of ways to address Eskom’s woes

  • Lynley Donnelly
7 min read
Labour fears that the unbundling of Eskom into three entities will result in job losses. Members of Cosatu marched to demand that the budget speech takes their views into account. (Oupa Nkosi/M&G)
ESKOM

Dissatisfied workers a real threat to power utility and economy

While Eskom goes from one controversy to the next, the dissatisfaction of its workforce poses a real danger to Eskom’s ability to keep the lights on

  • Sabelo Skiti
5 min read
‘Currently Eskom is borrowing money to service its debt. That means it is critical for us to deal with our cost issues,’ says Phakamani Hadebe (Delwyn Verasamy/M&G)
ESKOM

Eskom CEO says unbundling the utility will make it sustainable

Phakamani Hadebe told delegates at the Mining Indaba 2019 that Eskom is just ‘too big’

  • Carin Smith
3 min read
On Monday, Eskom CEO Phakamani Hadebe said the tariff hike and assistance from the government were necessary for the utility to remain a going concern. (Waldo Swiegers/Bloomberg/Getty Images)
ESKOM

Eskom secures a R15bn loan

But the utility already has a debt burden of almost R420-billion

  • Gemma Ritchie
1 min read
On Monday, Eskom CEO Phakamani Hadebe said the tariff hike and assistance from the government were necessary for the utility to remain a going concern. (Waldo Swiegers/Bloomberg/Getty Images)
CAPE TOWN

Communities say Eskom tariff increase will make the cost of living unbearable

Nersa kicked off its nationwide public hearings in Cape Town this week to deliberate on Eskom’s tariff applications

  • Tebogo Tshwane
3 min read
Eskom’s balance sheet was poor and affected its ability to secure long term bonds from the market, according to Eskom CEO Phakamani Hadebe. (Paul Botes/M&G)
CALIB CASSIM

Corruption, state capture behind Eskom’s downfall, Nersa hears

Outa says although Eskom brought about its own downfall, there were other factors, such as corruption and state capture, which worsened the situation

  • Lameez Omarjee
2 min read
The rain expected between December and March may impact coal handling and feeding to the boilers with a potential impact on generation production. Photo: Madelene Cronje
ESKOM

Is the load-shedding holiday over?

"Eskom’s long-term plans are to restore its energy availability factor to 75% by November".

  • Tebogo Tshwane
2 min read
Eric Wood had meetings with Siyabonga Nene about buying 70% of Brakfontein Coal Mine. (Paul Botes/M&G)
ESKOM

Eskom sweats as Trillian buys time

Eskom is trying to recover is missing millions, but Trillian CEO Eric Wood says he is overwhelmed by the court case against the Gupta-linked company

  • Sarah Smit
3 min read
Eskom’s proposal to place R100-billion on the government’s balance sheet could further damage South Africa’s credit rating. (Oupa Nkosi/M&G)
DEBT

Eskom aims to shed its debt load

But critics say shifting liability to the state could have unintended consequences for the economy

  • Lynley Donnelly
5 min read
(Graphic: John McCann/M&G)
CALIB CASSIM

Take Eskom’s bitter pill and pay up

‘Difficult decisions’ must be made and there is no escape for the consumer and the taxpayer

  • Lynley Donnelly
8 min read