Debt-laden South African power utility Eskom Holdings has narrowed its search for a new chief executive officer as the government finalizes a plan to rescue the business. The measures are key in a state effort to overhaul what’s seen as the biggest threat to South Africa’s economy: the company has amassed R450-billion of debt, equivalent to about 7% of gross domestic product. Both are expected to be finalized next month: the deadline for the announcement of the CEO is October 31, while Public Enterprises Minister Pravin Gordhan said this month the rescue plan would be announced within weeks.
