{"id":57708,"date":"2023-12-08T12:45:12","date_gmt":"2023-12-08T12:45:12","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/dan-marokane-lined-up-as-new-eskom-ceo"},"modified":"2023-12-08T13:03:18","modified_gmt":"2023-12-08T13:03:18","slug":"dan-marokane-lined-up-as-new-eskom-ceo","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/dan-marokane-lined-up-as-new-eskom-ceo","title":{"rendered":"Dan Marokane lined up as new Eskom CEO"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Dan Marokane is expected to be appointed as the new chief executive officer of South Africa\u2019s state power utility Eskom after an almost year-long search for a candidate, according to people familiar with the decision.<\/p>\n

The company\u2019s failure to boost generation from its old and poorly maintained power plants has led to nationwide electricity outages \u2014 implemented to prevent a total collapse of the grid. The worsening situation has weighed on a process to fill the top job at Eskom, which has had 14 leaders since 2007.<\/p>\n

\u201cThe process is with the shareholder to finalize and make the decision,\u201d Eskom spokeswoman Daphne Mokwena said. She referred further questions to the government, which hasn\u2019t made any formal announcement on the appointment. Ellis Mnyandu, a spokesman for the Department of Public Enterprises, declined to comment. A special cabinet meeting is scheduled for Friday, where the CEO appointment may be discussed.<\/p>\n

The yield on Eskom\u2019s dollar bonds due 2028 edged two basis points higher to 7.58% by 5:36 p.m. in Johannesburg. The rand was 0.7% stronger at 18.8361 per dollar, paring an earlier advance of as much as 1.3%.<\/p>\n

Marokane, an engineer who was previously Eskom\u2019s head of group capital and has served as CEO of troubled sugar producer Tongaat Hulett Ltd. since March, will have to begin the process of reviving the foundering utility months before South Africa votes in national elections. The energy crisis \u2014 the central bank has said that blackouts may have reduced the economic growth rate by as much as 3.2% last year \u2014 may, in part, result in the governing African National Congress seeing its support slip to as low as 45% next year, according to one survey.<\/p>\n

Companies \u2014 reeling from blackouts and inefficiencies at the state-run logistics firm \u2014 have been slashing jobs to keep costs under control.<\/p>\n

Andre de Ruyter said he would resign as CEO in December last year and quit the beleaguered company following a television interview in which he said that Eskom was losing about R1 billion ($53 million) a month to corruption and theft that could be connected to government officials and politicians. Calib Cassim, the company\u2019s chief financial officer, has been the interim head since De Ruyter left.<\/p>\n

In September, the search for De Ruyter\u2019s successor raised tensions between the board of Eskom \u2014 which reported a 23.9 billion rand net loss for the past financial year \u2014 and Public Enterprises Minister Pravin Gordhan.<\/p>\n

A month later, Mpho Makwana resigned as chairman of Eskom. He was replaced by Mteto Nyati, a former MTN Group executive and ex-chief executive officer of Altron.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Dan Marokane is expected to be appointed as the new chief executive officer of South Africa\u2019s state power utility Eskom after an almost year-long search for a candidate, according to people familiar with the decision. The company\u2019s failure to boost generation from its old and poorly maintained power plants has led to […]<\/p>\n","protected":false},"author":84,"featured_media":57707,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,275],"class_list":["post-57708","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nDan Marokane lined up as new Eskom CEO - South Africa<\/title>\n<meta name=\"description\" content=\"Dan Marokane is expected to be appointed as the new chief executive officer of South Africa\u2019s state power utility Eskom ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/dan-marokane-lined-up-as-new-eskom-ceo\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dan Marokane lined up as new Eskom CEO\" \/>\n<meta property=\"og:description\" content=\"Dan Marokane is expected to be appointed as the new chief executive officer of South Africa\u2019s state power utility Eskom ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/dan-marokane-lined-up-as-new-eskom-ceo\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-08T12:45:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-08T13:03:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/12\/sm_1702027867.726513.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/dan-marokane-lined-up-as-new-eskom-ceo#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/dan-marokane-lined-up-as-new-eskom-ceo\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Dan Marokane lined up as new Eskom CEO\",\"datePublished\":\"2023-12-08T12:45:12+00:00\",\"dateModified\":\"2023-12-08T13:03:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/dan-marokane-lined-up-as-new-eskom-ceo\"},\"wordCount\":441,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/dan-marokane-lined-up-as-new-eskom-ceo#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/12\/sm_1702027867.726513.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/dan-marokane-lined-up-as-new-eskom-ceo#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/dan-marokane-lined-up-as-new-eskom-ceo\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/dan-marokane-lined-up-as-new-eskom-ceo\",\"name\":\"Dan Marokane lined up as new Eskom CEO - 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