Gordhan appoints Phakamani Hadebe as Eskom CEO

Cabinet has approved a recommendation by Eskom’s board to appoint Phakamani Hadebe as CEO of Eskom.

Tryphosa Ramona had been appointed as SA Express’s chair and Monhla Hlahla will head defence manufacturer Denel’s Board. 

This is according to Public Enterprises Minister Pravin Gordhan who announced changes to boards of state-owned enterprises (SOEs) in his portfolio.

Gordhan also said that steps are being taken to merge South African Airways (SAA), SA express and Mango.

READ MORE: Eskom chief Hadebe is Mr Fix-it

Gordhan has oversight over power utility Eskom, rail and ports company Transnet, Denel, airline SA Express, diamond mining organisation Alexkor and the South African Forestry Company (Safcol).

In his budget vote last week, Gordhan unpacked measures the department is taking to clean up and reform SOEs. He spoke about changing the way boards are appointed, as they played a critical part in the strategy of state capture, Fin24 previously reported.

At a briefing ahead of the budget vote, Gordhan speculated that state capture enabled through the entities could have cost the country R100-billion.

Hadebe’s appointment follows the “excellent work” done at Eskom since he joined Eskom as interim CEO in January, Gordhan said.

“Hadebe has experience at the Land Bank and Treasury, he had a stint at banking institution ABSA, he is competent to steer Eskom and stabilise the institution and position it for its role in the economy.”

During the briefing Gordhan said it is important for SOEs to be placed on a sustainable financial footing. The boards have been under review, as have the operating models of the entities.

“SOEs have a crucial role to play in the economy and with regard to developmental challenges in the country.” — Fin 24

This article has been amended to reflect updated information

We make it make sense

If this story helped you navigate your world, subscribe to the M&G today for just R30 for the first three months

Subscribers get access to all our best journalism, subscriber-only newsletters, events and a weekly cryptic crossword.”

Lameez Omarjee
Lameez Omarjee
Parliamentary reporter at Fin24.com

Related stories

WELCOME TO YOUR M&G

Already a subscriber? Sign in here

Advertising

Latest stories

Tutu Puoane back on the South African stage after two...

She may have left South Africa more than 20 years ago, but this jazz singer is still firmly rooted in her heritage

Pandor: Blinken did not come to tell SA to choose...

The US secretary of state said that when one country invades another country, sovereignty and independence mattered

Emerging technologies show a clear pathway to ending the age...

We have all the tools we need to usher in a new era of superabundance but we need to ditch dying industries such as fossil fuel and livestock fast

Malibongwe festival returns with a tribute to women

Female artists celebrate Women’s Day and their achievements in the music world
Advertising

press releases

Loading latest Press Releases…
×