Dan Marokane Is Expected To Be Appointed As The CEO Of Eskom, According To Reports

Dan Marokane is anticipated to be selected as the new Chief Executive Officer of Eskom, the state power utility in South Africa, following an extensive search lasting almost a year, as per sources familiar with the decision. Eskom has faced challenges in enhancing electricity generation from its aging and poorly maintained power plants, resulting in nationwide power outages aimed at preventing a complete collapse of the grid.

The ongoing crisis has complicated the process of appointing a new leader for Eskom, an organization that has seen 14 leaders since 2007. Eskom spokeswoman Daphne Mokwena mentioned that the decision-making process is currently in the hands of the shareholder for finalization. The government, however, has not formally announced the appointment, and a special cabinet meeting is scheduled to potentially discuss the CEO appointment.

Dan Marokane, an engineer who previously served as Eskom’s head of group capital and has been the CEO of the troubled sugar producer Tongaat Hulett since March, is expected to take on the challenging task of revitalizing the struggling utility just months before South Africa’s national elections.

The energy crisis, which the central bank suggests may have significantly impacted economic growth, could lead to a decline in support for the ruling African National Congress. The CEO appointment comes at a critical time when companies are grappling with job cuts to manage costs amidst blackouts and inefficiencies in state-run entities.

Former CEO Andre de Ruyter resigned in December the previous year, citing corruption and theft losses of about R1 billion per month, potentially linked to government officials and politicians. Calib Cassim, the company’s chief financial officer, has been serving as the interim head since De Ruyter’s departure.

The CEO search, initiated after De Ruyter’s resignation, led to tensions between the Eskom board and Public Enterprises Minister Pravin Gordhan. In September, Eskom reported a significant net loss, and a month later, the chairman, Mpho Makwana, resigned, with Mteto Nyati taking over the position.

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