Transnet CFO Singh seconded to Eskom
Transnet’s chief financial officer Anoj Singh will be seconded to Eskom for six months, the chairpersons of the Transnet and Eskom boards said in a joint statement on Thursday.
Singh will serve as acting chief financial officer of the cash-strapped electricity utility from August 1.
“He will attend both the Eskom board of directors and the executive committee meetings. He will be responsible for driving all aspects of the company’s finance strategy, including the R250 billion funding plan,” Eskom chairman Ben Ngubane and Transnet chairwoman Linda Mabaso said.
“At Eskom, he will be primarily tasked with transforming the company’s finance function, aligning it with key strategic priorities of generation, funding and build programme, while enhancing the approach to tariff applications.”
Singh, a chartered accountant, has been Transnet’s CFO for the past six years and has played a key role in the logistics group’s seven-year infrastructure investment programme, which includes the acquisition of more than a thousand new locomotives.
“Under Mr Singh’s leadership, Transnet has accessed funding from investors in Canada, United States, Germany and China, amongst others. Throughout his leadership, Transnet maintained an above investment grade rating while raising funds on the strength of its balance sheet,” the statement said.
Singh’s secondment follows that of Transnet chief executive officer Brian Molefe to Eskom for a three-month period in April. This week, the board extended Molefe’s contract with Eskom for another three months.
Molefe, a veteran public service executive, has been at Transnet for more than four years.
Ngubane thanked Singh for accepting his secondment and said he was guaranteed “full support”. -ANA
(File Photo: Gallo Images)