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

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the seven most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Bloomberg makes fishy discovery when visiting Charles King (new owner of Tegeta)

Bloomberg makes fishy discovery when visiting Charles King (new owner of Tegeta)

Why is its registered address that of a violin shop? Bruce Whitfield interviews Intellidex’s Stuart Theobald.

5 reasons your expenses feel so much more (than the 4.6% inflation rate)

5 reasons your expenses feel so much more (than the 4.6% inflation rate)

The Money Show’s Bruce Whitfield interviews Econometrix Treasury Management Director George Glynos.

Meet Jonathan Ball, founder of South Africa’s leading publisher of English books

Meet Jonathan Ball, founder of South Africa’s leading publisher of English books

The Money Show’s Bruce Whitfield interviews Ball, who created Jonathan Ball Publishers 41 years ago.

This sport requires you to run, drive and fight all while remaining seated

This sport requires you to run, drive and fight all while remaining seated

eSports are more than just a game now and may even be an Olympic sport by 2024.

I want to ride my bicycle! I want to ride my bike!

I want to ride my bicycle! I want to ride my bike!

The business of cycling... The Money Show’s Bruce Whitfield interviews Team Dimension Data’s Doug Ryder.

Eskom slashes diesel bill from R800 million to R40 million in 5 months

Eskom slashes diesel bill from R800 million to R40 million in 5 months

Eskom seems to be making steady progress in executing its turnaround strategy. Bruce Whitfield interviews its Spokesperson.

Popular articles
Getting to know MP, Dr Makhosi Khoza

Getting to know MP, Dr Makhosi Khoza

Dr Khoza is admired by South Africans for her role in the SABC inquiry as a ANC member of parliament.

10 sexting tips on how to keep things spicy (and safe)

10 sexting tips on how to keep things spicy (and safe)

Interested in sexting but worried about the risks? Dr Eve has created a guideline to help you 'sext' in a fun and responsible way.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

Gospel singer Sipho Makhabane explains how Sfiso Ncwane died

Gospel singer Sipho Makhabane explains how Sfiso Ncwane died

Makhabane says Ncwane was feeling weak yesterday and his wife phoned paramedics to check on him.

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.

Meet the founder of Capitec Bank, named ‘Best Bank on Earth and Cheapest in SA’

Meet the founder of Capitec Bank, named ‘Best Bank on Earth and Cheapest in SA’

Michiel le Roux speaks about the fascinating story behind the little bank that has the Big 4 shaking in their boots.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?

5 ways the NSFAS funding model will change in 2017

5 ways the NSFAS funding model will change in 2017

The National Student Financial Aid Scheme (NSFAS) will pilot a new funding model in 2017. NSFAS chairperson Sizwe Nxasana explains.