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South Africa to pick Marokane as CEO of utility Eskom

South Africa to pick Marokane as CEO of utility Eskom

SOUTH Africa is expected to appoint Dan Marokane as Chief Executive of struggling state power utility Eskom, Bloomberg News reported, citing unnamed sources. Spokespeople for Eskom and the Department of Public Enterprises, the government department that oversees the power company, declined to comment on the Bloomberg report. Eskom has been without a permanent CEO since Andre de Ruyter left in February. Marokane is currently acting CEO at sugar producer Tongaat Hulett. He previously served as an executive at Eskom. Eskom has struggled to keep the lights on in Africa's most industrialised economy for more than a decade. This year it has…
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South Africa’s Eskom to significantly narrow loss next year

South Africa’s Eskom to significantly narrow loss next year

SOUTH African state power utility Eskom forecasted a significant narrowing of its net losses in the financial year to March 2025 but after only a marginal drop for this year. Eskom's interim CEO Calib Cassim told a press conference that the company was likely to post a net loss of 23.22 billion rand ($1.24 billion) for the year ending March 2024. "March '24 should be the last year we have significant losses. It should then drop significantly in 2025," Cassim said. Eskom reported a 23.94 billion rand loss for its last financial year, which ended in March 2023. The 100-year-old…
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