Business Lead South Africa

Irregular spend of national, provincial government SOEs up to R51 billion and counting

PARLIAMENT, November 21 – Irregular expenditure for national and provincial government departments, as well as state-owned entities audited by the Auditor-General amounted to R51 billion and counting, it was revealed on Wednesday.   Releasing the audit results for the 2017/18 financial year, Auditor-General Kimi Makwetu said the R51 billion excludes the irregular spending incurred by […]

In The News South Africa

NUM members expected to march to the Union Buildings protesting Eskom retrenchments

PRETORIA, November 17 – National Union of Mineworkers (NUM) members are expected to march to the Union Buildings in Pretoria on Saturday in protest against Eskom’s plans to retrench workers. The union says the state-owned power utility plans to retrench 7000 workers through voluntary packages in the next five years. On Wednesday, Eskom announced it […]

In The News South Africa

Eskom operating costs continue to increase

JOHANNEBURG, November 7 – Power utility, Eskom on Wednesday said their operating costs have continued to increase dramatically while output has remained largely unchanged despite efforts to curb expenditure. Eskom said their Board of Directors had decided to review the company’s organisational design to enhance operational and cost efficiencies. “Eskom’s Board has approved a Section 189 […]