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

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Lameez Omarjee
Lameez Omarjee
Parliamentary reporter at Fin24.com
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