Eskom Treasurer Announced Departure

The treasurer of South Africa’s troubled state power utility Eskom Andre Pillay has announced his departure at the end of August.

The groups’s CEO Phakamani Hadebe is also due to step down shortly having announced his resignation in May on the grounds that the job was having a negative impact on his health. Hadebe is the 12th CEO to head up Eskom in as many years.

Pillay is among those executives to have appeared before the ongoing judicial inquiry into state capture and corruption allegations. During his appearance Pillay described the pressure he had felt during the period under review, implicating the group’s former CFO Anoj Singh.

Eskom’s debt levels stand at almost R500bn, with the government due to provide billions in emergency funding to keep the public utility afloat. 

The departure of Pillay and Hadebe are a blow to Eskom and government hopes to turn the ailing utility around.