Eskom CEO Brian Molefe on the Guptas, surging profits (and no more loadshedding)

There is a kangaroo court happening in South Africa about the Guptas! I don’t see any reason why Eskom shouldn’t do business with them.

Brian Molefe, Eskom CEO

Our cost-cutting measures amount to R17.5 billion. We’ll continue cutting costs next year.

Brian Molefe, Eskom CEO

We’re getting more out of the machines than a year ago. We’re running them harder for longer. But we’re making sure they don’t break.

Brian Molefe, Eskom CEO

Eskom released results on Tuesday, saying it will no longer be a constraint to South Africa’s economic growth.

This comes in the wake of Minister Lynn Brown’s announcement that she will suspend pay hikes of Eskom’s executives.

Eskom’s revenue increased by 10.6% to R163 billion while profits grew by 57% to R4 billion.

The Money Show’s Bruce Whitfield interviewed Eskom CEO Brian Molefe.

Eskom will award Molefe R9.5 million for his efforts in steering the parastatal to just under 11 months of no load shedding.

Scroll down for quotes from the audio below.

Electricity demand is down 0.8% on a year ago.

Brian Molefe, Eskom CEO

We have been catching up on the backlog of maintenance and spending quite a bit more. We’re having fewer unplanned breakdowns than a year ago.

Brian Molefe, Eskom CEO

We expect the first unit of Kusile to come online next year.

Brian Molefe, Eskom CEO

I’m not aware of any underhand deals at Eskom.

Brian Molefe, Eskom CEO

Oakbay doesn’t have the capacity to produce the enriched uranium we need.

Brian Molefe, Eskom CEO

There is indeed misreporting about Eskom.

Brian Molefe, Eskom CEO

The media is the High Priest of the kangaroo court against the Guptas.

Brian Molefe, Eskom CEO

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