Lead South Africa

‘We are locked into a permanent loss-making position’ – Eskom chairman

JOHANNESBURG, November 28  – Eskom chairman Jabu Mabuza confirmed on Wednesday that the power utility was in a state of severe financial difficulty, and admitted that Eskom, as it is conceived and operating, was not sustainable. “We are locked into a permanent loss-making position in that our revenue growth is structurally constrained, our operating expenditure has ballooned […]

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 […]