Eskom Chief Executive Officer Phakamani Hadebe has resigned. His resignation has been confirmed by the chairperson of the Eskom board on Friday.
Eskom’s Phakamani Hadebe to step down in July@SABCNewsOnline @ewnupdates @IOL @News24 @TheCitizen_News @SowetanLIVE @Radio702 @Moneyweb @Fin24 pic.twitter.com/EE9uVUuknQ
— Eskom Hld SOC Ltd (@Eskom_SA) May 24, 2019
Early in 2019 Hadebe warned that the power utility was teetered on the edge of a debt trap.
He warned that unless revenue earned by the massive state owned utility increased markedly it would not be able to cover the costs of the debts it had incurred.
To forestall the collapse of the power giant, Eskom seeks approval for a 15% increase in electricity prices in each if the next three years.
Eskom produces 90% of the country’s electricity.
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