The world is changing fast and to keep up you need local knowledge with global context. He took on the CEO role at Eskom in full knowledge of … Some considered him brave for taking on the most difficult job in SA while others opposed his appointment. Matona served as Eskom’s CEO for seven months from October 2014 to April 2015. Dr Pulane Molokwane. Moody’s Investors Service says green bonds, whose proceeds finance environmental social projects, could exceed $200 billion in 2020. Yet, with a fleet of power stations prone to breakdowns, Eskom lacks what’s needed for repairs and maintenance. “The CEO has revised the team in generation to try and strengthen it so he can better cope with the challenges,” DPE Director-General Kgathatso Tlhakudi said in an interview on a day of power cuts last month. Eskom capitulated to the demands. Blackouts are rampant, with Eskom limiting supply to keep a decaying grid from collapsing. He sued the regulator to raise power prices, cut off towns with long-overdue bills and moved to cancel bloated supply contracts. The traditional CEO track at Eskom is to rise through the ranks of the utility or shift from a government position. Jabu Mabuza has since taken over as CEO. Eskom’s government manager, the Department of Public Enterprises, supports De Ruyter’s recent moves. Board of Directors. Moody’s Investors Service says green bonds, whose proceeds finance environmental social projects, could exceed $200 billion in 2020. © 2021 BizNews, Inc. | The Rational PerspectiveTerms & ConditionsComments Policy. “Eskom was catching up on maintenance during the period, particularly up to September 2021, after which we might see a significant reduction in the risk of load-shedding,” Mantshantsha said. I, however, do not agree with the findings of the report. Load shedding will be ‘significantly reduced’ by this time next year: Eskom CEO. The company, once called South Africa’s biggest economic risk by Goldman Sachs Group Inc. analysts, needs taxpayer handouts to pay the interest on its rising 488 billion rand ($29 billion) of largely government-guaranteed debt. #eNCA Courtesy #DStv403 The utility has ramped up maintenance from 3,000MW earlier in 2020 to close to 6,000MW now The evidence establishes, beyond all doubt, that Mr De Ruyter in any event honestly believed that the board had adopted such a strategy. They have denied wrongdoing. There are encouraging signs. The report, with respect, failed to address the core issues of my complaint,” he wrote. The stakeholders who ultimately control Eskom’s fate are giving him space to put turnaround plans in motion. It will report a third consecutive loss this year. “It is my understanding that the report will be forwarded to yourself. De Ruyter was an outlier for the job, having made his name as a manager at Sasol Ltd., the chemical and fuel producer, heading businesses in China and Germany. “I said, ‘this is it, please understand that some of you will no longer be here if this continues.”’ After severe power cuts followed, De Ruyter hand-delivered suspension letters to some of the managers. 13 October 2020 - 16:01 . I want to do things right.”. South Africa’s Eskom to Replace Coal With Renewables: CEO. Everything from investing like Warren Buffett to the Audiobiography of Cyril Ramaphosa. After nine months, De Ruyter is nearing the average term for Eskom CEOs over the last decade. They seemed to regard such an appointment as the kiss of death. Application for ammendment of Eskom's electricity distribution license to include Nkosi city area in its electricity areas of supply Health-related information on COVID-19 # South African Government information on COVID-19 “De Ruyter has surprised critics due to his tenacity,” said Darias Jonker, a director at the Eurasia Group in London. Eskom boss André de Ruyter has been cleared of misleading or being dishonest with the parastatal's board over the cancellation of lucrative fuel tenders. “I don’t think I was under any illusion that this wasn’t going to be a very challenging job,” De Ruyter said in an interview nine months into his tenure as chief executive officer of Eskom Holdings SOC Ltd. He accordingly raised issues of proof and relevance,” Trengove wrote. “The essence of Mr Dabengwa’s complaint is that Mr De Ruyter misled the board because the evidence of misconduct is both unproven and unrelated to the award to Econ Oil under BID CORP 4786. De Ruyter says he has a good relationship and prefers to collaborate with the unions, but is setting an unfamiliar tone from the top. “It turns out that we’ve been buying these things without regard to the real need,” he said. For more visit Business Insider South Africa. Staff Writer 16 January 2020. When De Ruyter was appointed as the new Eskom CEO, he was dubbed the “surprise choice”. 22nd September 2020 by Lindiwe Molekoa Eskom is renowned for having a “revolving door” of top executives and, after nine months, André de Ruyter is … In Mpumalanga province, the heart of coal country, the black rocks travel on conveyers that stretch for miles to power stations. André de Ruyter commands respect. Eskom releases report that found CEO André de Ruyter was not dishonest & did not mislead board, Advocate Wim Trengove dismisses director's allegations of wrongdoing. The lower sales volumes is directly related to load shedding and Eskom's failure to maintain capacity. Eskom is renowned for having a “revolving door” of top executives and, after nine months, André de Ruyter is nearing the average term for CEOs over the last decade. Eskom has said that the contract, awarded in 2019, was canned because of “serious irregularities”. Eskom chief executive Andre de Ruyter expresses strong support for IPP's, Subscribe: iono.fm, Spotify, Apple Podcast, Pocket Casts, Player.fm. Eskom’s troubles reflect South Africa’s decline over the past decade. But Dabengwa accused De Ruyter of misleading the Eskom board at its meeting on March 25 2020 when he provided reasons for the cancellation of the contract — including allegations of fraud and corruption, and possible price collusion. “I find it personally very rewarding to see things improve and maybe that improvement is not visible outside, but gradually you can sense it.” he said. “He described the evidence that raised serious suspicions that Econ had in the past been corrupt and dishonest in its relationship with Eskom. Dr Banothile Makhubela. In his resignation letter to public enterprises minister Pravin Gordhan, dated July 21, Dabengwa criticises the Trengove report, which the Eskom board adopted at its meeting on the same date. It was so successful that it … He responds to customer complaints personally by email. Picture: Moneyweb . De Ruyter misled the board about a resolution taken in January 2019 that fuel would be bought only from refineries, a resolution which Dabengwa said was never taken; the alleged evidence of collusion between bidders; and. De Ruyter says it’s not enough to keep Eskom operating. “Eskom employees are completely disconnected to the current leadership,” said Irvin Jim, general secretary of the National Union of Metalworkers of South Africa, the second-biggest union at the utility. Canceling expected bonuses was called an “act of war” by the utility’s biggest labor group, the National Union of Mineworkers. Listen to the story of Cyril Ramaphosa's rise to presidential power, narrated by our very own Alec Hogg. Even before Covid deepened South Africa’s recession, De Ruyter made waves taking on key constituencies, including his board of directors. Equipment and software don’t fight back — unlike the people De Ruyter needs to get with his program. He ordered up a new paint job for the main board room at Megawatt Park, the utility’s brutalist-style headquarters in suburban Johannesburg. Eskom released the full report publicly for the first time on Monday. De Ruyter has had regular discussions with the World Bank as well as French and German development banks about how such a transition could allow better financing terms. Dr Rod Crompton. Matona had told the Eskom Inquiry he did not know what was happening nor take any action when he signed off critical coal contracts in 2015 – some linked to the Gupta family. Limpopo community to be uplifted by R43m PowerBall winner. Cabinet has mandated Public Enterprises Minister Pravin Gordhan to negotiate with incoming Eskom CEO Andre de Ruyter to start his role earlier than the set date of January 2020. Besides cutting the debt load and moving away from coal, he has his eye on creating a clean energy industry in South Africa. Investigation 18.8.2020 11:19 am. There’s up to $100 million of parts at each of over a dozen sites, “but when you look for the critical spares, we don’t have them,” De Ruyter said. “Given that his personal vision for Eskom must be in direct conflict with a very complex group of stakeholders, he seems to have made decent progress,” said Bronwyn Blood, a portfolio manager at Granate Asset Management Ltd. in Cape Town. Eskom, in releasing the Trengove report, said it did so to “. He was suspended in March 2015 and later left the power utility. The Eskom board will investigate allegations made against CEO Andre De Ruyter, the company announced in a statement on 9 March. Touring the warehouse of one coal-fired station, he noticed three stories of shelving crowded with actuators, a component for its plants, and asked how many are actually used in a year. “The fact that he is still in the job, which is no doubt the toughest job in South Africa, and soldiering on bravely through the challenges that Eskom faces, is hugely positive from an investor’s point of view.”. De Ruyter’s task is to carry that out. Eskom CEO Andre de Ruyter. He cannot be faulted, in other words, for the dispute of fact between him and Mr De Ruyter. Ilustration: SUPPLIED . — State Capture Commission (@StateCaptureCom) October 3, 2020. According to the Sunday Times, 27 black executives were offered the top job but declined. Eskom was once one of the world’s leading electricity companies. Addressing The Joburg Indaba on Thursday, de Ruyter said the country’s commercial, industrial and residential electricity tariffs are competitive by international standards. The state capture inquiry will on Wednesday hear Eskom-related evidence from former board member and acting CEO … “I accept that Mr Dabengwa denied in good faith that Eskom’s board had taken such a decision. Mr Dabengwa’s accusation of dishonesty was, however, baseless and irresponsible,” the report states. The high court in Johannesburg has ordered Eskom to pay R40m to construction company Aveng for its work on a rail yard and coal offloading facility ... Eskom asked its customers late on Thursday afternoon to reduce their electricity consumption as the power system is "currently constrained". He also did not suggest that the evidence of Econ’s misconduct related directly to its BID CORP 4786 contract. Eskom must show improvement in various areas including its cost base, revenue and collecting municipal debt, he said. … By James Mahlokwane Feb 23, 2021. Eskom CEO André de Ruyter. “Then you start turning over all the rocks” he said, describing how he also learned that the average age of transformers is at least a decade older than what would already have been replaced in the private sector. 25th December 2020 by Denise Mhlanga Debt-ridden power utility Eskom will sell 7,000 of its non-core properties – valued at nearly R10bn – over the next five years. Previous CEO Phakamani Hadebe resigned due to health reasons and the highly regarded Brian Dames burnt out at 48 after three years in the job. Some Eskom plants are within a short enough distance to the only natural gas pipeline from Mozambique that they could be repurposed to use the fuel. In the third area, Dabengwa questioned De Ruyter's say that there had been fraud and corruption linked to the tender. Loadshedding, as it’s called locally, cost South Africa as much as $7 billion in 2019 and the utility this year has already cut the most power on record. All Eskom’s coalfired power plants are adequately supplied with fuel, according to Eskom CEO Andre de Ruyter. That helps explain why De Ruyter is getting into the weeds. –With assistance from Robert Brand and Antony Sguazzin. The company was at the heart of a scam by the locally notorious Guptas, an Indian family that has now fled to Dubai to avoid prosecution. The new Eskom CEO heads an operation with earnings that are far exceeded by its debt repayments. De Ruyter’s tactics have yet to visibly alter Eskom’s downward trajectory. But the government won’t be providing a blank check indefinitely. According to the statement, the power provider received 142 applications, eight of which were from Eskom employees, after Phakamani Hadebe resigned as Eskom CEO in July this year. The aim is to turn the flailing coal-burning giant into a green-power business with a manageable debt load that sustains Africa’s most-advanced economy. Image: REUTERS/Sumaya Hisham Eskom boss André de Ruyter has been cleared of misleading or being dishonest with the parastatal's board over the … Former Eskom director Sifiso Dabengwa — who TimesLIVE reported in July had resigned due to “fundamental differences of principle” — accused De Ruyter of being dishonest and of misleading the board over the decision to cancel a R14bn fuel supply tender. Eskom's 10 former CEOs and 6 boards could do little to stop the escalating crisis at the utility; But he knows coal. 'A heartless move': Cele accuses Malema of using grieving family's ... Ex-president's bank statements show 'big cash deposits', Eskom makes U-turn, halts Tuesday evening's load-shedding, No load-shedding until 4pm, back to stage 1 for evening: Eskom, 'You got caught up in a spaghetti': Jacob Zuma to ousted Eskom boss, Judge Raymond Zondo believes the ANC is abusing state power, Eskom to switch from stage 1 to stage 2 load-shedding on Monday afternoon. “We need to as a country understand the very legitimate fears of people who have jobs that are afraid of losing those jobs,” he said. JOHANNESBURG - Eskom CEO Andre de Ruyter said that most Eskom power stations had coal supplies of an average of 51.7 days and none were below the required 20 days. Eskom, in releasing the Trengove report, said it did so to “end the speculation” over its findings. Eskom CEO Andre de Ruyter in ’power abuse’ probe after complaint letter sent to board chairperson. “He has stayed the path despite the frustrations and gridlock that many observers thought would make him leave Eskom by this time.”. Chief Executive Officer Andre de Ruyter, who took office at the start of the year, intends trimming Eskom management by offering voluntary severance … “I’m meticulous. Eskom have again applied to NERSA for an urgent 17% increase in tariffs for 2019/2020 in an attempt to make up a R27.323 billion shortfall, Eskom is citing lower returns due to lower sales volumes as main reason for needing this price hike. Subscribe to our Newsletter to get daily updates on local affairs, with a global context. Culture of ‘don’t ruin his career’ and ‘men have needs’ plagues ... Mpisane offers to pay R200,000 for 20 indebted students. Professor. © 2021 Arena Holdings (Pty) Ltd. All rights reserved. They parlayed political ties into a range of Eskom contracts, from coal supply to consulting. At Eskom CEO André de Ruyter’s first system status briefing on 31 January 2020, he warned that there would be an increased risk of load-shedding because of increased maintenance. One of the tenderers, Eastern Cape-based Econ Energy, which has been supplying fuel to Eskom since 2003, has challenged the cancellation of the contract. Eskom CEOs from 1985 to 2020 – The problem is clear. So when De Ruyter got to work as the 13th Eskom CEO in the past decade, he went after one foolproof success. Staff Writer 8 October 2020. Passed over as Sasol CEO, De Ruyter moved on, accepting the top job at packaging company Nampak Ltd. After five years there, he was tapped by the government in a surprise appointment that angered labor unions calling for a Black CEO. Managers from over a dozen power stations were summoned last month to an auditorium at Eskom’s headquarters to be confronted by De Ruyter with photos showing “very poor maintenance practices.”. Makhosandile Zulu . De Ruyter has seemingly surprised his critics and “has stayed the path despite the frustrations and gridlock that many observers thought would make him leave Eskom by this time.” – Lindiwe Molekoa. Impeccable sources indicate that the Eskom board is supportive of the Eskom CEO and COO following the presentation of the report by De Ruyter at the board meeting of 31 August 2020… Protesters blocked access to the stations, conveyor belts carrying coal were cut, power went out, and the rand weakened. Among others tagged were Deloitte LLP, which admitted to irregularities in the procurement process, and McKinsey & Co., which agreed to return money to the utility after a dispute over its contract. The 52-year-old private-sector veteran is confident his corporate approach, like a merit-based system for managers and an intolerance for theft, are making headway. “People are frustrated,” he said. “You’d have to be oblivious to what’s going on in the economy and the negative impact that loadshedding has on the economy.”. (Bloomberg) — Andre de Ruyter knew well the adversity he faced at South Africa’s power monopoly — a state-owned wreck hollowed out by corruption that struggles to keep the lights on, pay its bills and play ball with a unionized workforce. This is according to a report from advocate Wim Trengove, who was called in following a complaint made against group CEO De Ruyter. “If you want to steal, an absence of controls is favorable, that helps you. “It’s a big elephant. “He accordingly honestly placed the available information before the board for the directors to make their own assessment,” Trengove wrote. 'He had scars all over his body': Brutal Eldorado Park double killing leaves ... Agrizzi bail conditions extended & amended as he's 'reliant on oxygen'. After investigating the say, Trengove found that. Eskom became synonymous with graft and corruption during the nine-year presidency of Jacob Zuma that preceded Ramaphosa’s. Amendment to company information. Former Eskom CEO Brian Molefe has still not paid back t... Former Eskom CEO Brian Molefe has still not paid back the money Eskom's former CEO Brian Molefe has appealed the … The COVID-19 outbreak has disrupted many operations throughout the world, and South Africa is no exception. Econ was eligible for R5.2bn in terms of contract BID COPR 4786. January 16, 2021 January 17, 2021 The African Mirror Brian Molefe, former Eskom CEO, Cyril Ramaphosa, Eskom, GLENCORE, Zondo Commission AFRICA MIRROR REPORTER BRIAN Molefe, a former CEO of South African power utility Eskom has launched an unprecedented attack on the country’s President Cyril Ramaphosa, accusing him of being used as a pawn by a coal mining company. How I finally figured out what being healthy really means, Retire at 55 and live to 80; work till you’re…, Government is in crisis; SA must stand up against…, © 2021 BizNews, Inc. | The Rational Perspective, The strange case of Andre de Ruyter – Andrew Kenny, “We’re accelerating unbundling but it’s complex” – Eskom CEO Andre de Ruyter, Deputy President David Mabuza: ‘Our plans to fix Eskom are working. ESKOM, the South African government-owned power utility, is to investigate allegations of racism leveled against its group CE, André de Ruyter, said BusinessLive.. De Ruyter, the former CEO of packaging group Nampak, was brought in to spearhead a turnaround the embattled power utility in January 2020, but has recently been accused of helping purge black suppliers, in favour of white … Eskom CEO Andre de Ruyter says there'll be a shortfall in supply of electricity of approximately 4,000 megawatts over the next five years. After investigating the say, Trengove found that De Ruyter “did not mislead the board in any way”. “Legend has it that the Tsar then walked in, flogged down a ruler on the map, said ‘there is the route’ and that was it.”. Operations are a mess too. “Subsequently, the Eskom board at its July 2020 meeting, adopted the report of this Senior Counsel and expressed its support for the CEO.
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