Transnet CEO seconded to lead Eskom

Public Enterprises Minister Lynne Brown has seconded Transnet CEO Brian Molefe and appointed him as the acting Eskom CEO after Tshediso Matona was suspended in March.

Molefe has been in his role at Transnet since 2011 and was the Public Investment Corporation CEO from 2003 to 2010. Matona was suspended when Eskom announced it would start an independent inquiry into the state utility, which has been battling with maintenance and financial issues, resulting in load shedding.

Brown said there would be clarity on the so-called deep dive inquiry into Eskom’s financial troubles on Wednesday.A company skilled in accounting and forensic inquiry should be announced shortly to conduct the inquiry, said Brown.Brown, who acknowledged that Eskom is spending R1bn a month on emergency diesel supplies and that this has already gobbled up the R8bn profit it announced in its interim financials at the end of last year, is expecting the deep dive report within three months. – Fin24



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