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Eskom Chair Steps Down Amid Contentious Search For New CEO

SOUTH AFRICA
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  • Public Enterprises Minister Pravit Gordhan announced that Eskom Chair Mpho Makwana will step down at the utility's annual general meeting slated for the end of October. Mteto Nyati will be appointed as new Chair, with Gordhan noting that the "efforts to stabilise Eskom and restructure it into three subsidiaries — generation, transmission, and distribution — remain on track". Makwana's replacement comes at a time when the beleaguered energy utility struggles to find a new CEO, following the departure of Andre de Ruyter several months ago. The Mail & Guardian reports that a rift emerged between Gordhan and Makwana after the former rejected a CEO candidate proposed by Eskom's board.
  • The Daily Investor reports that the South African Revenue Service (SARS) is offering payment arrangements to indebted taxpayers in a bid to address the growing fiscal shortfall. The SARS has been struggling to meet its revenue collection targets this year amid a decline in corporate income tax collection and an increase in VAT refunds.
  • South Africa's data docket is empty today, which leaves the rand exposed to offshore developments.
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  • Public Enterprises Minister Pravit Gordhan announced that Eskom Chair Mpho Makwana will step down at the utility's annual general meeting slated for the end of October. Mteto Nyati will be appointed as new Chair, with Gordhan noting that the "efforts to stabilise Eskom and restructure it into three subsidiaries — generation, transmission, and distribution — remain on track". Makwana's replacement comes at a time when the beleaguered energy utility struggles to find a new CEO, following the departure of Andre de Ruyter several months ago. The Mail & Guardian reports that a rift emerged between Gordhan and Makwana after the former rejected a CEO candidate proposed by Eskom's board.
  • The Daily Investor reports that the South African Revenue Service (SARS) is offering payment arrangements to indebted taxpayers in a bid to address the growing fiscal shortfall. The SARS has been struggling to meet its revenue collection targets this year amid a decline in corporate income tax collection and an increase in VAT refunds.
  • South Africa's data docket is empty today, which leaves the rand exposed to offshore developments.