Today's Labour News

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eskomReuters reports that President Cyril Ramaphosa said on Monday that the government would soon announce a permanent CEO for state-owned Eskom.  

The crisis-hit power utility has been hobbled by technical and financial woes, and implemented days of power cuts last week after a number of its generating units broke down.  In a statement, Ramaphosa said the return of power cuts underscored the urgency of action required, and the government would do all it could to restore Eskom to viability and tackle its "daunting" level of debt.  "We will soon be announcing the appointment of a permanent Eskom CEO who, together with a strengthened board, will be tasked with turning the entity around," he said, adding the person would be guided by a special paper on Eskom which would also be released shortly.  Specific measures he highlighted included the long-planned restructuring of Eskom into three entities, improving Eskom's credit rating and tackling the high levels of debt owed to the company by defaulting municipalities, government departments and individual customers.  Eskom’s acting CEO, Jabu Mabuza, said last week that a new CEO for the company would likely be announced before the end of October.


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