Eskom debt rises to R439 billion!

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  • South Africa’s National Treasury briefed the Standing Committee on Appropriations yesterday (30 May 2023) on the preliminary spending outcomes as at the end of the fourth quarter of the 2022/23 financial year.
  • Treasury reported that Eskom’s debt now stands at R439 billion.
  • Eskom reported unsustainable debt of R396.6 billion in their 2022 AFS. Read more 

Big debt widening?  Mr Pravin Gordhan, South Africa’s Minister of Public Enterprises has direct oversight of South Africa’s energy utility, Eskom. Image credit: APO

The Minister of Public Enterprises, Mr Pravin Gordhan, is accountable and has direct oversight of Eskom which is beset by poor planning, incompetence, corruption, fraud, looting, theft and sabotage. Tax payers money is nearing R495 billion in Eskom bailouts. Read more 

Earlier this month, the South African government announced a relief package that writes of R56 billion historic municipal debt to Eskom. Read more 

The people of South Africa face up to 16 hours of daily blackouts this winter. Read more 

The financial rot extends to most other state owned enterprises under Gordhan’s management in South Africa. Watch the full presentation via link above.

Author: Bryan Groenendaal


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