Ramaphosa wants new Eskom board appointed urgently

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Deputy President Cyril Ramaphosa greets security personnel at the World Economic Forum on Africa 2017 meeting in Durban, South Africa, May 5, 2017.

JOHANNESBURG - Cyril Ramaphosa wants a new Eskom board before he leaves to Davos for the World Economic Forum Sunday.

Eskom&39;s ongoing instability is seen as having the potential to destabilise the country, and Ramaphosa wants to take a clear message to Davos that he is addressing the situation.

On Saturday, Fin24 reported that Eskom chair Zethemba Khoza submitted his resignation to the Minister of Public Enterprises Lynne Brown "in (the) good interest of the country."

"I was putting out fires on a daily basis, so I think it&39;s good to give new people a chance," Khoza said.

Former finance minister Nhlanhla Nene and businessman Jabu Mabuza are said to be firm favourites to head the new Eskom board.

Former deputy minister of finance, Jabu Moleketi, is also expected to be on that board.

The resignation and Ramaphosa&39;s sense of urgency comes amid warnings from Finance Minister, Malusi Gigaba, that Eskom&39;s financial crisis could collapse the country&39;s economy.

The power utility&39;s financially precarious position has seen rating agencies indicate that Eskom may not be able to meet its financial obligations.