Eskom CFO: Power utility needs to be more transparent

On Wednesday, Eskom Chairperson Jabu Mabuza said debt relief options which form part of its turnaround plan need to be implemented immediately if the power utility is to be rescued from its debilitating state.

The power utility released its interim results for the first six months of the 2018/2019 financial year, showing that profit was 89 % lower than the previous year.

READ: Eskom is not sustainable, warns its Chairperson Jabu Mabuza

Speaking to Bongani Bingwa, Eskom’s Chief Financial Officer Calib Cassim says Eskom needs to be transparent within itself and with the country about its financial and operational status.

He acknowledges that the results are very disappointing and extremely concerning as Eskom is such an important asset to the country.

But I think if you firstly look at the operational costs and how we performed, you will see that the earnings before declined by 4% year on year. However, the pressure really comes from what we call below the line - the depreciation, as more assets are commissioned.

Calib Cassim, Eskom’s Chief Financial Officer

Listen below to the full interview:


Recommended

by NEWSROOM AI
Read More
Customers to be hit hard by Eskom debt

Customers to be hit hard by Eskom debt

On Wednesday Eskom announced it was sitting with total debt of over R419 billion.

Parly committee recommends Gigaba, Brown to be called to Zondo Commission

Parly committee recommends Gigaba, Brown to be called to Zondo Commission

Zukiswa Rantho says the committee recommended a number of individuals to be further investigated.

Eskom is not sustainable, warns its Chairperson Jabu Mabuza

Eskom is not sustainable, warns its Chairperson Jabu Mabuza

Eskom – and therefore all of South Africa – is in deep, deep trouble. Bruce Whitfield interviews Chris Yelland of EE Publishers.

Eskom inquiry report adopted by parly committee makes damning findings

Eskom inquiry report adopted by parly committee makes damning findings

EWN reporter Babalo Ndenza says the 141-page report makes a number of damning findings against a number of individuals.

Drop in solar costs could change the game for renewables, says guru

Drop in solar costs could change the game for renewables, says guru

The affordability of solar power could dramatically reduce reliance on Eskom, especially for medium and large businesses.

 I don't want the Black Twitter Awards, I want the White Awards - Coconut Kelz

I don't want the Black Twitter Awards, I want the White Awards - Coconut Kelz

In this segment of the Current Affairs, satirical comedian Coconut Kelz chats about rejecting her Black Twitter Award nomination.

'We believe that we have always been correct' - Transnet board chair

'We believe that we have always been correct' - Transnet board chair

Transnet has welcomed the Labour Court's dismissal of an application by CEO Siyabonga Gama to interdict his removal.

No magic wand to fix Eskom woes, it could take a while to get it back on track

No magic wand to fix Eskom woes, it could take a while to get it back on track

Eskom is at a critical stage and does not have enough capacity to meet its power demands says, Prof Anton Eberhard.

[LISTEN] Pauli Van Wyk details how Malema benefited from VBS looting

[LISTEN] Pauli Van Wyk details how Malema benefited from VBS looting

Journalist at Daily Maverick’s Investigative Team Scorpio, Pauli Van Wyk details how funds were channeled to Malema and his party.

Eskom CEO says almost 100 corrupt officials axed in bid to clean out the rot

Eskom CEO says almost 100 corrupt officials axed in bid to clean out the rot

Eskom appeared before Parliament where the utility was being grilled on its annual report, financial state and its corporate plan.

 Business group Sakeliga wins victory to stop Eskom bulk power supply cut-offs

Business group Sakeliga wins victory to stop Eskom bulk power supply cut-offs

CEO Piet Le Roux says it's unacceptable that Eskom interrupts power to communities when most have already paid their bills.

SA could be spending the festive season in the dark

SA could be spending the festive season in the dark

A discussion on the state of electricity in the country.

WC DA leader refuses to hand over electronic devices as party probes media leak

WC DA leader refuses to hand over electronic devices as party probes media leak

Western Cape DA leader Bonginkosi Madikizela confirmed that he was asked to hand over his devices but he says that he refused.

Brian Molefe loses court bid

Brian Molefe loses court bid

Sikhonathi Mantshantsha says a full bench of the high court found Molefe's reinstatement and payment to be unlawful.

Popular articles
Africa State of Mind: 'My dream is to be global' -  Sho Madjozi

Africa State of Mind: 'My dream is to be global' - Sho Madjozi

In this episode of Africa State of Mind, Lee Kasumba chats to South African rapper Sho Madjozi about her upbringing, and rise to fame.

'Love your vulva the way it is' - Designer vaginas are dangerous, warns Dr Eve

'Love your vulva the way it is' - Designer vaginas are dangerous, warns Dr Eve

So-called 'designer vaginas' are created through various surgical or non-surgical procedures, explains clinical sexologist Dr Eve.

'Shutdown of Ndalo Media is no surprise and is a blow to media diversity'

'Shutdown of Ndalo Media is no surprise and is a blow to media diversity'

The company will reportedly shut its doors in January 2019.

'Cyril is the most popular president since Nelson Mandela'

'Cyril is the most popular president since Nelson Mandela'

Author Max de Preez weighs in on where SA would be if Jacob Zuma was still president and the impact of Ramaphosa now.

Kidnapping for ransom on the rise in Gauteng

Kidnapping for ransom on the rise in Gauteng

Gauteng MEC for Community Safety Sizakele Nkosi-Malobane says kidnapers are out to get a ransom from desperate parents.

Here is what to do if you're affected by driving licence backlog

Here is what to do if you're affected by driving licence backlog

The WC Traffic Department has made provisions to cater for motorists affected by the backlog with the issuing of driving licences.

[WATCH] Internet search for talented singer Nosipho is over...she's been found!

[WATCH] Internet search for talented singer Nosipho is over...she's been found!

Khabazela shares tweets and Facebook posts that have gone viral.

'Evidence is solid. Poor people’s money was used illegally. Shivambu benefitted'

'Evidence is solid. Poor people’s money was used illegally. Shivambu benefitted'

Ray White interviews Pauli van Wyk, an investigative journalist with Scorpio at Daily Maverick.

'I thought he was going to rape me' - Ellen Pakkies on killing drug addict son

'I thought he was going to rape me' - Ellen Pakkies on killing drug addict son

'Ellen' The Ellen Pakkies Story, premiers in cinemas on Friday.