Eskom CEO Phakamani Hadebe has resigned from the troubled state-owened power utility, and will be stepping down at the end July. Hadebe said he was stepping down for health reasons. "It is no secret that this role comes with unimaginable demands which have unfortunately had a negative impact on my health," he said. "In the best interest of Eskom and my family, I have therefore decided to step down." Hadebe was part of the new leadership appointed at Eskom last year as part of the clean-up at the power utility. Eskom, which was one of the state-owned entities embroiled in the state capture project, is struggling with a liquidity problem and finds itself in R440bn debt. Eskom is unable to service its debt from its revenue and is in a classic debt trap, borrowing to finance interest payments. It also has about R45bn in debt redemptions that will fall due in the fourth quarter. Business Day reported earlier this week that Eskom urgently needed a much bigger commitment of government s...
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