South Africa Appoints CEO of Eskom

Phakamani Hadebe was named the new CEO of Eskom, South Africa’s state-owned electricity company, following years of instability and turbulence from within the utility. Public Enterprises Minister Pravin Gordhan made the announcement Thursday morning.

Hadebe is noted for bringing stability to the utility and aggressively attacking corruption after he was named interim CEO in January by then-Deputy President Cyril Ramaphosa. The last time the public utility had a permanent CEO was in November 2016, when then-CEO Brian Molefe resigned after a report linked him to the Gupta family which is undergoing a federal inquiry for state corruption.

Eskom is embroiled in corruption scandals and debt, and the government was seeking a strong leader to turn the company around.

Hadebe has a strong track record, and was formerly head of investment banking at Barclays Africa and CEO of Land Bank.