Picture: BUSINESS TIMES
Picture: BUSINESS TIMES

Eskom Pension and Provident Fund (EPPF) CEO and principal officer‚ Nopasika Lila‚ has resigned.

“Lila has indicated that after thorough introspection she took a personal decision to move on‚” EPPF board of trustees chair Mantuka Maisela said on Tuesday.

Lila joined the fund in December 2010 as CFO.

“Lila has served the organisation and our members with professionalism and diligence. Lila became EPPF CEO and principal on April 1 2018 and her last day at the office will be on March 31 2019‚” said Maisela.

According to the EPPF’s website‚ Lila is an independent non-executive director of enX Group and Nampak. She previously worked at‚ among other companies‚ Old Mutual and the Public Investment Corporation (PIC).

Eskom debt

On January 14, Eskom CEO Phakamani Hadebe made a desperate plea for higher Eskom tariffs over the next three years and for more money from the government. The power utility cannot service its R419bn debt from its current revenue.

The ANC said in its election manifesto launched this month that it was committed to “investigating the introduction of prescribed assets on financial institutions’ funds to unlock resources for investments in social and economic development”.

This could mean forcing pension funds to invest in state projects and state-owned enterprises (SOEs), such as Eskom.

A task-team put together by President Cyril Ramaphosa to guide the government on a way forward for Eskom briefed the ANC lekgotla at the weekend on a number of proposals. These include splitting Eskom into three SOEs for generation, transmission and distribution. It also recommended a substantial bailout, as well as tariff hikes.