It’s simply unsustainable to carry on in the way they’ve been carrying on… Politically there’s going to be some hard choices made by the President… The only man with a plan…— Chris Yelland, EE Publishers
Eskom on Wednesday forecasted a loss before tax of R11.2 billion in the current financial year.
The state-owned utility reported a R671 million profit in the six months to the end of September but said its performance in the next six months would be hurt by a wage deal with trade unions, higher maintenance costs and coal shortages.
In its current state, Eskom is not sustainable.— Jabu Mabuza, Eskom Chairperson
Eskom reported a R6.3 billion profit in the first half of the 2017/18 financial year before slumping to a R2.3 billion loss for the full year.
Eskom’s debt rose to R419 billion at the end of September, from R367 billion a year earlier.
Listen to the interview in the audio below (and/or scroll down for more quotes from it).
Today we saw a very frank and open disclosure of the dire financial position Eskom finds itself in.— Chris Yelland, EE Publishers
They can get their operational performance back to where it must be… On the financial side… the reality is that the politics of South Africa… will not allow Eskom to do what it wants with its prices…— Chris Yelland, EE Publishers
Enjoy The Money Show, but miss it sometimes?
Get the best bits emailed to you daily, right after it ends:
Recommendedby NEWSROOM AI
The Money Show’s Bruce Whitfield interviews Warren Ingram, Personal Financial Advisor and Executive Director at Galileo Capital.
The Money Show’s Bruce Whitfield interviews Prof Raymond Parsons (Economist at NWU Business School) and EWN's Alex Eliseev.
What music can do for the soul, podcasts can do for the mind.
Bruce Whitfield sat down with GT Ferreira, Laurie Dippenaar and Paul Harris, the inspirational founders of Rand Merchant Bank.
It's interesting to see which The Money Show articles were most widely read in 2018; a very tough year for the economy.
Review of “Friend of a Friend: Understanding the Hidden Networks That Can Transform Your Life and Your Career” by David Burkus.
In this episode of Africa State of Mind, Lee Kasumba chats to South African rapper Sho Madjozi about her upbringing, and rise to fame.
So-called 'designer vaginas' are created through various surgical or non-surgical procedures, explains clinical sexologist Dr Eve.
The company will reportedly shut its doors in January 2019.
Author Max de Preez weighs in on where SA would be if Jacob Zuma was still president and the impact of Ramaphosa now.
Gauteng MEC for Community Safety Sizakele Nkosi-Malobane says kidnapers are out to get a ransom from desperate parents.
Khabazela shares tweets and Facebook posts that have gone viral.
Ray White interviews Pauli van Wyk, an investigative journalist with Scorpio at Daily Maverick.
Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone viral'.
'Ellen' The Ellen Pakkies Story, premiers in cinemas on Friday.