HomeIndustry SectorsFinance and PolicyEskom: Another one bites the dust—FD leaves on amicable basis

Eskom: Another one bites the dust—FD leaves on amicable basis

Ms molefe
Eskom Finance Director Tsholofelo Molefe. Pic credit: Eskom

In South Africa, state-owned power utility Eskom has announced that it has ‘amicably’ parted ways with Finance Director Tsholofelo Molefe.

In a company statement, Eskom stressed that Molefe was never suspected of any negligence, misconduct or wrongdoing.

Both parties believe that the agreement to separate is in the best interest of Eskom. This is to allow the Board to pursue its plans for the company under the current leadership.

The company statement added that with the separation, the enquiry initiated by the Eskom Board into the state of affairs at the utility will continue as planned, and Molefe’s suspension falls away.

The separation is also by no means in anticipation of the outcomes of the enquiry, the latter whose objective is to enable the organisation to deal with its challenges.

This is the third senior director to leave Eskom in similar circumstances in as many as two months.

Public hearing

This announcement follows a two day public hearing hosted by the National Energy Regulatory of South Africa (NERSA) on Eskom’s proposed selective reopener, in which Eskom is requesting a 25% tariff increase.

Both Eskom and NERSA were placed ‘in the firing line’ as members of the public approached the podium to give their opinion and justification on why this tariff increase was not feasible for the economy.

With Eskom in a financial pickle, energy analyst Ted Blom explained in his presentation on Wednesday that since 2010, the power utility was allocated ZAR70 billion ($6 billion) for maintenance, however, according to Blom, none of those funds were used for the purpose indicated.

Ashley Theron
Ashley Theron-Ord is based in Cape Town, South Africa at Clarion Events-Africa. She is the Senior Content Producer across media brands including ESI Africa, Smart Energy International, Power Engineering International and Mining Review Africa.