By Lehlohonolo Lehana.
State owned power utility Eskom confirmed that Calib Cassim would retire as group chief financial officer on 31 October 2026, concluding 24 years of service.
In a statement, Eskom said Cassim would serve in an acting capacity until the appointment of his successor.
Cassim began working at Eskom in 2002, when he was initially appointed as chief advisor of financial planning and regulation. He served in this role until 2007.
Thereafter, he served as general manager of financial planning and regulation. In this capacity, he managed tariff applications and pricing submissions to the National Energy Regulator of South Africa.
It was during this time that Eskom began implementing electricity tariff increases well above inflation, in part due to taking up substantial debt to fund the construction of its Kusile and Medupi power stations.
The plants were the government’s answer to plugging the gap between electricity supply and demand and ending load-shedding.
Cassim was promoted to group chief financial officer in 2017. He also acted as Eskom chief executive officer between 2023 and 2024, following the departure of André de Ruyter.
Eskom said that Cassim played a key role in strengthening Eskom’s financial position and advancing the organisation’s long-term sustainability.
“Eskom’s return to profitability as he concludes his tenure is a fitting milestone and reflects his significant contribution to the company over more than two decades,” the power utility said.
“The Eskom board and executive management thank Mr Cassim for his dedicated service and valuable contribution to Eskom and wish him well as he enters retirement.”
Eskom said it would provide updates on the appointment of a new group chief financial officer in due course.
Cassim is a qualified chartered accountant and served as a financial manager in Standard Bank’s credit card division before joining Eskom.