Eskom’s new head to be named within hours


JOHANNESBURG, January 20 (Reuters) – South African authorities
are due to name a new executive chairman for troubled power
utility Eskom within 24 hours, broadcaster eNCA television said
on Saturday, adding that former finance minister Nhlanhla Nene
was the front-runner.

A spokesman for the state firm said he was not aware that
such an announcement was scheduled.

Eskom, which supplies virtually all of the power
for Africa’s most advanced economy, has been embroiled in
governance and graft crises and has delayed its interim results,
a move that could see trading of its debt suspended on the
Johannesburg bourse.

Finance Minister Malusi Gigaba said on Thursday the Treasury
could not afford to bail the firm out but would take unspecified
action soon to tackle the company’s challenges.