Business In The News South Africa

Eskom ‘galloping’ towards financial distress, says NUM

JOHANNESBURG, July 20 – The National Union of Mineworkers (NUM) on Thursday said Eskom was heading for financial distress despite the power utility’s assurances this week that it was on firm financial footing. Eskom released its 2016/17 financial results on Wednesday in which it said earnings before interest, taxes, depreciation and amortisation (EBITDA) surged 14.4 percent to […]

In The News South Africa

Eskom refutes allegations that it is ‘broke’

JOHANNESBURG, July 16 – Electricity parastatal Eskom on Sunday denied media reports that the state-owned company (SOC) is facing a cash crisis. Eskom had noted weekend media reports concerning its financial sustainability, Eskom said in a statement. “Due to limitations around disclosing financial information before the official announcement which is scheduled for Wednesday 19 July […]