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Eskom Taps Calib Cassim To Become Interim CEO

SOUTH AFRICA
  • Eskom appointed Calib Cassim as its interim CEO after the abrupt departure of Andre de Ruyter, who gave a damning interview about corruption in the electricity utility. De Ruyter's comments have drawn criticism from high-level ANC politicians, who threatened legal action and demanded that the former Eskom chief substantiates his claims. The utility's board chairman Mpho Makwana said that de Ruyter never raised his concerns with the board and should have filed a report with the police. Acting CEO Cassim takes on his new role with immediate effect, until further notice.
  • Fitch Ratings said in a statement that the government's debt-relief plans for Eskom, unveiled in Finance Minister Godongwana's budget speech earlier this week, "are broadly in line with assumptions factored into our previous sovereign review." The rating agency warned that the expectation of debt stabilisation in FY2025/26 relies on "optimistic but plausible revenue forecasts, but leaves risks from wage increases unaddressed.
  • A group of U.S. House republiicans have drafted a resolution opposing South Africa's hosting of joint military exercises with Russia and China. The Daily Maverick cited Congressional sources who suggested that the document was unlikely to be adopted by the House, but it reflects broader sentiment in U.S. political circles. According to the Daily Maverick, U.S. President Biden might bypass South Africa during his African trip expected later this year.
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