Ex-ABSA CEO Maria Ramos to potentially head planned Eskom unbundling

Ex-ABSA CEO Maria Ramos to potentially head planned Eskom unbundling

- Eskom recently received a bailout from the National Treasury earlier this month but is in need of more assistance to get back on its feet

- Reports have revealed that Tito Mboweni’s favourite candidate for the heading of the operation is Maria Ramos, ex-ABSA CEO

- If Ramos is appointed, she would be responsible for representing the government in the role of Chief Reorganisation Officer

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According to the Sunday Times, there is a high chance that ex-ABSA CEO, Maria Ramos, could be the running the reorganisation of Eskom, for its proposed unbundling.

Ramos is reportedly a top contender for this position of Chief Reorganisation Officer (CRO).

In this role, the former ABSA CEO would be in charge of Eskom’s finances, contracts and utility maintenance.

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Ramos retired from her position of CEO at ABSA in January, after successfully leading the company for a decade.

This position of CRO for Eskom would be taken up in light of the proposed unbundling of the state-owned entity, which would split the power utility into 3 divisions.

Ramaphosa announced this plan in February earlier this year, in addition to the announcement that the government would be offering Eskom a R69 billion bailout fund which will be paid out over 3 years.

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During this February budget speech, Tito Mboweni added that the financial support given to Eskom from the government will continue on the condition that a CRO is appointed by the ministers of finance and public enterprises.

According to The Citizen, Eskom received an emergency payout from the National Treasury earlier this month, but is still in dire straits.

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The first instalment of the bailout fund allocated to the power utility by Ramaphosa earlier this year was unfortunately delayed due to paperwork issues, so Eskom had to find emergency funds elsewhere to tide the utility over, Briefly.co.za found out.

Enter headlineorganisation which surround it.

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Source: Briefly.co.za

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