Political interference led to Hadebe’s resignation: Analyst
Energy expert, Ted Blom says one of the main reasons which led to the resignation of Eskom’s Chief Executive Officer Phakamani Hadebe is political interference in the company.
Hadebe resigned amid a deepening financial crisis and structural issues at the power utility. He leaves Eskom at the end of July. Hadebe says the stress of the job negatively affected his health. The Eskom Board has accepted his resignation and praised Hadebe for driving transformation at the cash-strapped power utility.
Eskom’s massive debt now totals well over R 400 billion are considered the greatest threat to South Africa’s already fragile economy.
Bloem says, “Ever since the government snatched Eskom’s shares in 2001, illegally as far as I am concerned, they have been running the company as another extension of Luthuli House. Paul Mashatile even tweeted that Luthuli House takes all the decisions at Eskom. Hadebe had a 5 year vision, he really started the job with a lot of hope and a lot of anticipation, and this just shows you how politics can destroy a life of a decent person.”