Treasurer of South Africa’s Eskom quits, what you need to know

JOHANNESBURG (Reuters) – The group treasurer of South Africa’s Eskom, Andre Pillay, will leave the power utility at the end of August, it said on Monday, the latest high-profile exit after its chief executive quit earlier this year.

Eskom supplies more than 90% of South Africa’s electricity, but has implemented severe power cuts this year and is failing to generate sufficient profit.

It is hinging its recovery hopes on a 230 billion rand ($16 billion) bailout pledged by government in February.

Reporting by Mfuneko Toyana; Editing by Jan Harvey

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The government can fix the Eskom problems and they don’t need to sell any division of Eskom to operate well, the president needs to restructure the energy facility as his main priority moving forward, to position South Africa as a manufacturing hub for the continent, that wìll prepare for upstream industrial production and reduce unnecessary imports to the continent.

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