Transnet’s Group Chief Financial Officer Anoj Singh has been seconded to Eskom as its acting Chief Financial Officer.
“The Boards of Directors at Transnet and Eskom have agreed to second Transnet Group Chief Financial Officer, Anoj Singh, as acting Chief Financial Officer to Eskom for a period of six months,” said the boards of Eskom and Transnet.
Singh’s secondment is effective from 1 August 2015 and he will attend both the Eskom Board of Directors and the Executive Committee meetings.
He will be responsible for driving all aspects of the company’s finance strategy, including the R250 billion funding plan.
At Eskom, he 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.
As a chartered accountant, Singh has been in the role of Group Chief Financial Officer at Transnet for the past six years.
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 acting CFO has extensive experience in financial strategy development and execution, capital projects assurance, treasury, corporate finance, investor relations, tax and funding for regulated businesses.
He has won several accolades in recognition of his outstanding performance and leadership, including the Public CFO of the Year Award for two consecutive years in 2014 and 2015 and the Strategy Execution Award and Compliance and Governance Award, among others.
“The Board and everyone at Eskom welcome Singh and thank him for accepting the challenge. He is guaranteed full support,” said the boards.
Meanwhile, Eskom said there was currently no load shedding taking place on Friday morning as the power system is currently stable enabling the utility time to perform plant maintenance.
However, the power system is expected to be constrained throughout the day mainly as a result of increased electricity demand.
“As we are currently experiencing cold weather conditions across the country, we urge electricity users to consider energy efficient ways of keeping warm,” said the utility.
In winter the electricity demand peaks in the morning and evening as more electricity is used during these times