Eskom’s loss narrowed to R12.3 billion in the year through March, from a restated R25 billion a year earlier, outgoing Chief Executive Officer Andre De Ruyter said at an online results briefing on Friday. Debt owed by the utility, which supplies more than 90% of the nation’s electricity, fell 1% to R396.3 billion by the end of March, he said.
The yield on Eskom’s 2028 eurobonds, which don’t carry a government guarantee, rose four basis points to 11.43% on Friday afternoon in Johannesburg. The yield on benchmark South African government 10-year rand bonds was little changed at 11.78%. The auditor’s report found evidence of failure by the utility to take action to correct breaches of the National Environment Management Act or comply with the Public Finance Management Act, Eskom said in a stock-exchange filing. It also picked up other irregularities, including the purposeful destruction of tender documents in a fire, the possible recreation or falsification of documents and a failure to investigate and report financial misconduct and irregularities.
_Business Why are we allowing this to happen
_Business How is it possible they cannot deal with the criminals in management positions are they that clever that they outsmart our hawks and npa? This is so unreal we as African ms we so slow on everything
_Business Thanks our lawn enforcement and our judiciary who allow the cases to drag on for years. Thanks to the municipality’s not paying their bills and citizens stealing power while we as the minority must pay 💰. Thanks to the ministers for neglecting alternative power sources
_Business Yup. Show again how incompetent the CyrilRamaphosa regime is.
_Business Shock* *Horror* - The party that committed state capture is still the ruling party and still in charge of Eskom.
_Business It all began in 2018 after we were told State capture lie now we are here with unending loadshedding.
_Business That's not what the article says. The article says Eskom Management committed fraud and burnt the Tender Documents trying to hide corruption evidence.
_Business Besides the illegal connections, it's asif the laws are encouraging some defaulters not to pay their bills, and Eskom isn't allowed to throttle them or cut them off; this is definitely a real recipe for disaster.
_Business So phucking liquidate it then... and hand it over to people with more than 1 brain cell! voetsekanc
_Business Do not understand what about the massive amount it collected that was published
_Business Typical SOEs when run by ANC
_Business So, on Christmas day you can leave electricity on for the entire country? Many families are using this electricity to cook etc. It begs the question-why do we have to return to load shedding tomorrow if we have the megawatts to supply the entire country today? We being played.
_Business Shocking Everybody is helping themselves to all available funds, equipment etc Way down we Go Go Go CyrilRamaphosa come on you are a self made man surely you can fix all these problems or did you make your money from the apartheid regime since 1994 Corrupt since 1994
_Business In other news the sun came up 🥱
_Business Of course not... It's planned that way as per Cyril and Biden and the nwo. To make way for African Rainbow Energy Co. Owned by Cyril, Patrice and Radebe..
_Business Privatize!!!
_Business Let me get this straight. I pay for electricity. But the money doesn't reach eskom. Then i must pay with my tax money that if already done 3 times. I geuss crimes against humanity only qualified aslong as it was under apartheid. Mofo robing people blind
_Business
_Business Time to nationalize.
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_Business Sometimes the smallest step in the right direction ends up being the biggest step of your life. Tip toe if you must, but you take the step with Cormick0Dave You sound have be among thoses crypto lovers so far they are many who have better understanding on how crypto works.
_Business Accountability needs to be implemented in this country. Guilty parties stealing from the poor need a 25 year life sentence. No exceptions. We cannot build a great South Africa with this dictatorship style leadership.
_Business Mxxxxxxxm evil heartless anc sies may God CURSE it.
_Business
_Business Re o rata kaofela
_Business There will be no outrage about the R20 billion loss because it is not Koko and President Zuma.
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