Eskom CFO placed on special leave

Eskom CFO placed on special leave

Eskom's chief financial officer, Anoj Singh, has been placed on special leave. 

Eskom CEO

The power utility says the board of directors have taken a decision to grant Singh special leave pending an investigation. 

According to reports, it follows pressure from the Development Bank of South Africa prompting intervention from the Finance Minister.

The bank is reportedly threatening to recall its R15 billion loan if no action is taken against Singh.

Last week, during the release of its financial results, Eskom confirmed irregular expenditure to the tune of R3billion. 

Eskom confirms Calib Cassim has been appointed Interim Chief Financial Officer. 

He is a registered chartered accountant, with 15 years of service at Eskom.

Acting board chairperson Zethembe Khoza says: "We would also like to assure all stakeholders that the company is stable as evidenced by the recent financial results, and will continue delivering on its turnaround strategy."

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