Transnet CEO Brian Molefe now acting CEO of Eskom

Cape Town - Public Enterprises Minister Lynne Brown has seconded Transnet CEO Brian Molefe and appointed him as the acting Eskom CEO with immediate effect after Tshediso Matona was suspended in March.

“What I need is a full-time chief executive who can do the job from the get-go," Brown told reporters in Johannesburg on Friday, according to Bloomberg.

Molefe has been in his role at Transnet since 2011 and was the Public Investment Corporation CEO from 2003 to 2010.

Matona was suspended when Eskom announced it would start an independent inquiry into the state utility, which has been battling with maintenance of its generators and has been implementing load shedding.

Brown also announced that Dentons had been selected to conduct the deep dive inquiry into Eskom's financial troubles.

Brown, who acknowledged on Wednesday that Eskom is spending R1bn a month on emergency diesel supplies and that this has already gobbled up the R8bn profit it announced in its interim financials at the end of last year, is expecting the deep dive report within three months.

"The replacement for ... Molefe at Transnet will be announced on Monday says ... Brown," SA Gov News tweeted.

Brown said she didn't expect the country to go into stage 3 load shedding this week, saying we need to work on the country's demand side, according to SA Gov News.

Molefe said his immediate priority is to minimise the current load shedding that the country is experiencing, according to SA Gov News.

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
Rand - Dollar
15.92
+0.1%
Rand - Pound
21.12
+0.3%
Rand - Euro
18.01
-0.0%
Rand - Aus dollar
11.24
+0.5%
Rand - Yen
0.14
+0.2%
Gold
1,772.11
+0.2%
Silver
22.34
-0.2%
Palladium
1,840.50
+3.1%
Platinum
945.00
+0.5%
Brent Crude
69.67
+1.2%
Top 40
64,702
+0.2%
All Share
71,188
+0.2%
Resource 10
67,379
-0.3%
Industrial 25
94,004
+0.4%
Financial 15
14,009
+0.9%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot