NEWS ANALYSIS: Phakamani Hadebe fought ‘the unimaginable’ — and lost
Misdiagnosis of the power utility’s malaise led to the wrong treatment
Eskom’s departing CEO, Phakamani Hadebe, was the wrong person for the job, with the wrong board above him and scant management support behind him. No-one should be surprised that after only a year and a half he is on his way out.
Day by day the extent of the disaster at Eskom is becoming bigger. It is all but cut off from the capital markets, with only a Chinese credit line drip-feeding it money. Eskom has now turned to the government to pay its debt redemptions for 2019/2020, which is about R45bn.