PARLIAMENT - Eskom remained in dire financial straits as it tries to claw back billions lost to corrupt activities, non-payment for electricity by both consumers, big customers and municipalities, Eskom board chairman and acting chief executive Jabu Mabuza told members of Parliament on Wednesday.
Briefing Parliament's public enterprises portfolio committee, Mabuza presented Eskom's annual report containing the audited financial statements and reflected on the R21 billion loss, 30 days of loadshedding and R6.5 billion in diesel spend to minimise the impact of loadshedding for the financial year ended March 2019.
While Eskom tries to recover money following years of corruption, with Mabuza saying thousands of cases have been referred to the Special Investigating Unit and passed on to the National Prosecuting Authority, the entity also insists the culture of non-payment was starting to add up as municipal debt to Eskom had breached the R20 billion mark.
"Our formula is broken. We not selling what we've produced, if we selling it people aren't paying for it...," he said. In addition, Mabuza said electricity sales simply were not covering what it took to produce the power.
21 Billion loss? They must turn off the lights at his house. Making his problems ours here
They have succeeded in step1 total black out, what going to follow I chaos
I think is a strategy to support their vision of selling Eskom
_AfricanSoil Maybe now eskom is financialy stable under him😀😀
CoruscaKhaya Cc Chumani_Mnqojan
What a mess
What the fuck !
Zuma was the problem🤣😂
They real crooks are in the cookie jar and they are eating
Engineer Koko told you about expensive ipp's,using diesel n y'all terminated his services coz you wanted to loot undisturbed,now you cant loot anymore n you crying formula? Fact is YOU are the wrong formula! Resign n give it to competent engineers not this cadre deployment!!
Honestly this man is clueless... Even when he was making a presentation on the report all I could hear was... Eeh... Eeh... Eeh through out the whole presentation
He is Chairman and CEO. That's why it can't work. Eskom is shit
We are busy put water into a leaking bucket. Soon they'll be asking for a bailout 😏formula please
How much is this former taxi driver earning?
This one is clueless
How many jobs does this man have? He is chairing the board of the biggest utility in africa, acting as its CEO and are a director of several other companies. R21 billion loss? Please ANC we are tired of the years of billsh^*ting.
Under the corrupt regime never were things that bad at Eskom. You are keeping the lights on using diesel thats why.
So the CEO report to himself as board chairperson
The utility posted 1bil profit before those ipp nonsense was signed, coal costs increased way above inflation, ipp contracts made up 25 percent primary costs however only yielded 5 percent elelctricity.. the problem ls started gettin rid of the engineer when he warned of this.
ITjoo that's a lot of money ok we understand as public members bcs PravinGordan is the political head all SOE's &he is busy with his team of expects & task team in IPP form to chew our money in Eskom we see u & everything that's happening there that's Thumamina 2steal more...
Is the guy still CEO and board chairman at Eskom?
This referee n a player at the same n his boss Jamnandas must fall
Why is he not being fired and must pay back our taxes? He is a criminal like his employers.
Dear Eskom, 98% of SA uses Eskom(no other choice) How the Fishcake can you have a R21Billion loss ? WhoTheFIsStealingDELUXE
Wht is dat taxi driver still doing there at Eishkom!?🤷🏾♂️ Pravin is fucking us dry here!🤞🏾
Mabuza and Jamnandas can't afford to tell us about a R21 billions loss, they must both be fired.
This mampara and Pravin must voetsek
Our formula is broken: this from eskom? Rather say eskom is broken!
Taxi boss cannot run Eskom
_AfricanSoil This was an annual report that recorded R21 millions loss and that means that corruption happened under his watch coz he's not talking about previous years🙄
The formula of reporting a record loss in the history of Eskom; of presiding on this loss as the CEO who reports to himself as the chairperson; of, with family, having supplied the same entity you run and account to self; of deliberately and systematically creating a crisis
He is so clueless
Oh now you have found your voice 🙄🙄🙄🙄
They are going to blame the Guptas.
R21 billion loss and the minister of bail outs will come to their rescue
Nice hat 🎩
Hau isn't Jamnadas fixing
How much of the R21bn went to executive management salaries and benefits?
Aowa bathong... How long has been running at a loss..... How long will it continue running at a loss.... Hao banna..... Perhaps maybe until Afriforum is in power it'll miraculously start profiting
It’s not the formula it’s you dumbfucks
Wonder how big his bonus will be?
A ledger stating that loss will show us make us understand a breakdown figure .Municipalities disconnect if not paid. ESKOM was looted by the 5th administration must be called to account * Even if you are abroad after been conflicted.Thats why 5th admin held back prosecutions.
And every executive will get good performance bonus 🤦🏿♂️
'Our formula is broken' They keep saying these things like they've only just realised it.
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