Eskom gets new chief financial officer

Transnet chief financial officer (CFO) Anoj Singh has been seconded to Eskom in the same role for six months, according to the state utility on Thursday.

Singh’s secondment is effective from 1 August 2015 and he will attend both the Eskom board of directors and the executive committee meetings, Eskom said in a statement.

“He will be responsible for driving all aspects of the company’s finance strategy, including the R250bn funding plan.”

On June 25, former Eskom finance director Tsholofelo Molefe resigned, after being suspended along with three other senior executives, including former CEO Tshediso Matona. He also resigned, along with executive for group capital Dan Marokane.

All the executives were on Wednesday cleared of any wrong doing, the Eskom board announced, after an inquiry into company was concluded. Eskom said the inquiry report was being finalised and would be shared with government in due course.

Singh 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, Eskom said.

According to Eskom, Singh is a chartered accountant who has been Transnet’s CFO for the past six years. He led Transnet’s treasury operations, which saw the company raising billions in both domestic and international markets, Eskom said.

Singh has extensive experience in financial strategy development and execution, capital projects assurance, treasury, corporate finance, investor relations, tax and funding for regulated businesses, Eskom said.

It added that he has won several accolades in recognition of his outstanding performance and leadership. These include: Public CFO of the year award for two consecutive years in 2014 and 2015 respectively, Strategy Execution Award and Compliance and Governance Award, among others.

Before joining Transnet, he worked as an accountant at a listed company and as an auditor.

Source: News24

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Eskom gets new chief financial officer