Mteto Nyati will stay on as Eskom chair for another three years.
Today Minister of Electricity and Energy, Dr Kgosientsho Ramokgopa, extended the term of Nyati’s contract to November 2029.
According to a statement from the Eskom board, under Nyati’s leadership it has overseen a period of significant operational, financial and governance progress, while holding the dual mandate of a commercial duty to run a financially sound business, and a developmental duty to keep South Africa connected, growing and inclusive.
“During this time, Eskom strengthened governance and accountability, improved operational performance, reduced reliance on diesel-powered generation, restored profitability with profits reported in two consecutive financial years, and advanced reforms that are positioning the organisation for long-term sustainability,” the statement continues.
It adds that the board has also overseen significant progress in Eskom’s separation, including the advancement of the unbundling strategy, the establishment and operationalisation of the National Transmission Company South Africa (NTCSA), and the launch of Eskom Green, the utility-scale renewable energy business. Together, these milestones are strengthening the foundations for Eskom’s long-term sustainability and supporting South Africa’s evolving energy landscape.
“We are rebuilding an economic asset for South Africa,” says Eskom group chief executive Dan Marokane. “The extension of Nyati’s term provides continuity and leadership certainty at a time when Eskom is being positioned for long-term sustainability. The board has played a critical role in strengthening governance, improving operational and financial performance, advancing the restructuring of the business, and creating the conditions required for a competitive marketplace.
“Mr Nyati is well respcted throughout Eskom and our industry, by our Shareholder and across our key stakeholders, including organised labour, our investor base and the wider business community. Eskom and South Africa are fortunate that Mr Nyati remained available for this reappointment, and I am personally looking forward to continuing our strong working relationship,” he adds.
“Being asked to continue as the chairman of Eskom is not a formality. It is a responsibility that I have accepted with humility and with a clear understanding of what the country expects,” Nyati comments. “I want to thank the Minister of Electricity and Energy, the cabinet and the president for the trust they have placed in me.
“Over the past three years, Eskom’s employees have shown what is possible. They have proved that impossible is not a fact; it is an opinion. They have lifted this organisation from the worst crisis in our democratic history to a point where we now have excess capacity that can be used to drive economic growth.”