Eskom gets finance chief 'on loan'

Transnet’s Group Chief Financial Officer‚ Anoj Singh‚ is being sent to Eskom to serve as acting Chief Financial Officer at the troubled power utility for six months.

Singh’s secondment is effective from 1 August 2015‚ Eskom said in a statement.

He will be responsible for driving all aspects of the company’s finance strategy‚ including the R250 billion funding plan.

Singh‚ a Chartered Accountant‚ has been in the role of Group Chief Financial Officer at Transnet for the past six years. He led Transnet’s treasury operations which saw the company raising billions in both domestic and international markets. Under Singh’s leadership‚ the statement said‚ Transnet has accessed funding from investors in Canada‚ United States‚ Germany and China.

During his tenure as CFO‚ Transnet launched its rolling seven-year infrastructure investment programme which currently stands at R336 billion. This includes the acquisition of the 1‚064 locomotives – one of South Africa’s single biggest capital investment transactions.

“The Board and everyone at Eskom welcome Mr Singh and thank him for accepting the challenge. He is guaranteed full support.”