The Sunday Times reports that Ramos, who stepped down from Absa in January, is favoured to be appointed the chief reorganisation officer (CRO) at Eskom.

The CRO is expected to represent government in overseeing Eskom’s finances, contracts, and maintenance of facilities, as well as examine staff and operational costs. The person would also report to the Eskom board and ministers of finance and public enterprises.

Public Enterprises Minister Pravin Gordhan told Sunday Times he and Finance Minister Tito Mboweni had not completed consultations on the appointment of the CRO. He said he was not aware of Ramos being a possible candidate for the CRO position.

“A knowledgeable finance person who is able to cut through the fog will be extremely helpful,” Gordhan was quoted as saying.

The appointment of a CRO became urgent after National Treasury approved an emergency bailout of R17.6 billion to Eskom after the China Development Bank failed to release an amount of R7 billion from a loan the bank and the power producer concluded in 2018.

Mboweni told Parliament that the funds from the China Development Bank did not arrive on time due to the South African Reserve Bank’s exchange control requirements.

This meant that Eskom, at the last minute, needed to secure the money in order to pay its bills until the end of March.

EWN