Eskom's new chief executive took charge of the crisis-plagued utility on Mo...
JOHANNESBURG - Eskom’s new chief executive took charge of the crisis-plagued utility on Monday, embarking sooner than planned on the mammoth task of fixing a national power deficit and restructuring debts that have hobbled South Africa’s economy.
Ramaphosa is trying to revive Africa’s most advanced economy, which is flirting with recession, and attract new investment. Saddled with unreliable coal-fired power stations, Eskom has struggled to meet demand since 2007, forcing it into several rounds of extensive power cuts. Outages last year dented economic output and shook investor confidence in Ramaphosa’s administration.
De Ruyter’s predecessor, Phakamani Hadebe, stepped down in July, citing health reasons. Sources told Reuters at the time that another reason was that he felt frustrated at being excluded from important decisions affecting the utility.
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