Eskom’s debt takeover marred by CEO’s explosive allegations and ANC lawsuit

By Ray Mwareya

Posted on Friday, 10 March 2023 14:37
Supporters of South Africa's biggest opposition party, the Democratic Alliance hold placards during a march to the headquarters of the governing African National Congress (ANC) over rolling power blackouts, in Johannesburg, South Africa, January 25, 2023. REUTERS/Siphiwe Sibeko

Announcements that South Africa's government will absorb a significant portion of Eskom's debt have been overshadowed by explosive allegations of criminality flourishing within Eskom, which CEO Andre de Ruyter claimed when he resigned abruptly on February 23.

Eskom is bleeding 1bn ZAR ($54m) a month to organised criminality, De Ruyter claimed in a stunning interview with ETV, a private channel in South Africa. On 14 December, De Ruyter announced that he will step down as Eskom CEO but will remain in the job until March while a successor is sought, amid tensions caused by the ruling ANC party’s subsequent lawsuit against the CEO.