South African business leader Mteto Nyati gets three-year extension as Eskom chairperson

South African business leader Mteto Nyati will remain chairperson of state-owned power utility Eskom Holdings SOC Ltd. for another three years, with his extended tenure taking effect Nov. 1, 2026. Eskom said the decision provides continuity as the utility pursues operational and financial sustainability, energy security, and market reforms while building on progress made during its recovery.

Nyati accepted the extension with what he described as humility and a clear understanding of the expectations placed on Eskom by South Africa. His continued leadership comes as the utility seeks to strengthen long-term competitiveness, sustain operational improvements, and create value while maintaining momentum on governance and its broader restructuring program.

Continuity at Eskom

Eskom said that strong leadership and governance remain essential to building sustainable institutions. The utility said Nyati’s extended tenure underscores the importance of continuity as it advances operational excellence, financial sustainability, market reforms and long-term value creation, giving the board greater stability as the power company executes its strategy.

Eskom Group Chief Executive Dan Marokane said the extension provides leadership certainty as the utility works toward long-term sustainability. “We are rebuilding an economic asset for South Africa,” Marokane said, adding that the board has strengthened governance, improved operational and financial performance, advanced restructuring, and helped create conditions for a more competitive electricity market.

Nyati thanked the minister of electricity and energy, Cabinet and President Cyril Ramaphosa for their confidence in extending his tenure. He said Eskom employees had demonstrated what was possible during the utility’s recovery, arguing that the company had moved beyond its deepest crisis and reached a point where excess generating capacity could support economic growth.

From crisis to capacity

Nyati said Eskom must now help South Africa industrialize and support industrialization across the Southern African Development Community region. “Eskom must be more than a supplier of power. It must be a platform for growth,” he said, outlining a broader role for the utility as South Africa seeks to expand industrial activity and strengthen its economy.

Nyati, a former chief executive of MTN South Africa and Altron, has more than 25 years of experience across telecommunications, technology, and media. He is chairman of BSG, a South African business and technology consulting company, and founded Wazo Investments, a private equity firm focused on medium-sized businesses with growth and scalability potential.

Business career and influence

A 2004 Yale World Fellow, Nyati is also the author of “Betting on a Darkie,” a book focused on leadership, diversity and innovation. He has received several honors, including an honorary doctorate from the University of Johannesburg and recognition as IT Personality of the Year in 2014 and 2016.

During Nyati’s first three years as chairperson, Eskom said the board oversaw progress in governance, operational performance, profitability and business restructuring. That included advancing the utility’s unbundling strategy and establishing the National Transmission Company South Africa, while balancing Eskom’s commercial mandate with its role in supporting economic growth and inclusion.

Eskom pushes restructuring

Eskom said it strengthened governance and accountability, improved operational performance, reduced its reliance on diesel-fired generation and returned to profitability, reporting profits in two consecutive financial years. The utility also advanced reforms aimed at positioning the business for long-term sustainability as South Africa reshapes its electricity market.

The board also oversaw further separation of Eskom’s businesses, including the establishment and operationalization of the National Transmission Company South Africa and the launch of Eskom Green, its utility-scale renewable energy business. Eskom said the changes are strengthening the foundation of the utility while supporting the evolution of South Africa’s energy sector.

New projects reshape power

Earlier this year, Eskom partnered with Swiss energy storage company Energy Vault to develop a large-scale gravity battery project at Hendrina Power Station in Mpumalanga. The coal-fired facility has supplied electricity to South Africa for decades, while the storage project forms part of broader efforts to strengthen the grid and reduce dependence on coal.

The utility is also advancing plans to secure alternative fuel supplies for power generation. In May, Eskom reached a long-term liquefied natural gas agreement with Zululand Energy Terminal, supporting plans for a 3,000-megawatt gas-to-power project in Richards Bay and providing access to imported LNG, including storage and regasification capacity.

The agreement underpins a 25-year fuel strategy as Eskom seeks to stabilize electricity supply and diversify its generation mix. The utility has faced years of electricity shortages, aging infrastructure and rolling blackouts that have constrained businesses and households, making reliable power generation and grid investment central to South Africa’s economic ambitions.