Eskom has appointed Andre Pillay as its Treasurer with effect from 1 September.
Pillay has been a senior manager at Eskom treasury since 2011 and has been responsible for negotiating funding with Export Credit Agencies (ECAs) and Development Funding Institutions (DFIs), among others.
“We are pleased to appoint Andre as the Eskom Treasurer. He has the requisite experience and knowledge of Eskom and the markets to perform his new role with distinction and enable Eskom to successfully execute its funding program of R327bn,” says the utility’s Chief Financial Officer, Anoj Singh.
Pillay has over 15 years’ experience in the fixed income market. His career has given him exposure to the money and capital markets. In addition, he has trading experience in the bond and interest rate derivative markets.
In the private sector he was a bond portfolio manager and also responsible for asset liability matching. He spent five years at the South Africa National Treasury as Chief Director responsible for liability management.
In 2009 he joined the South African Reserve Bank as Head of Reserves Management. In 2011, he moved to Eskom Treasury where he was a senior manager until his recent appointment as Treasurer.
As at the end of August 2016, Eskom had available liquidity of approximately R38 billion and had secured more than 57% of its borrowing requirement of R69 billion for the financial year 2016/17.