Eskom is not sustainable, warns its Chairperson Jabu Mabuza
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:
National Consumer Commission director of prosecutions Joseph Selolo says you can't be naive or claim to be duped.Read More
Following a cabinet meeting, Winde said that the province had sufficient health capability to manage COVID-19 patients.Read More
From 50 finalists the three winners have been selected and they represent top adaptive thinking in business right now.Read More
'Mr Eazi' launched the Africa Music Fund to support the continent's creative talent. Bruce Whitfield interviews Lee Kasumba.Read More
Justin Chadwick (Citrus Growers' Association) says it's all thanks to the perceived immune-boosting attraction of Vitamin C.Read More
Bruce Whitfield interviews Whitey Basson, who believes it's just not good enough for govt to say ban will be lifted but not when.Read More
Bruce Whitfield talks to MTN CFO Ralph Mupita about the reasons for the move and the company's huge profit increase.Read More
Marc Lubner on the NGO's programmes for young South Africans and how working with Nelson Mandela inspired his life's work.Read More
Involved in an accident you didn't cause? Third party claims don't pay out much. Wendy Knowler shares one driver's horror story.Read More
Liberty's David Munro tells The Money Show its R3b pandemic reserve shows the insurer 'truly living out its purpose'.Read More