Eskom: The abyss just gets deeper | Business | M&G

Finance Minister Tito Mboweni has to balance the demands of a power utility that is struggling to keep the lights on with the need to stabilise the nation’s debt. In late February, the 20th to be precise, Finance Minister Tito Mboweni detailed in his budget how R23-billion would be made available for the next three years so that Eskom could get its financial and operational affairs in order.

But within five weeks, at the end of March, the power utility — the 11th largest globally and the country’s biggest enterprise with turnover last year of R177-billion — needed emergency funding to be kept functioning. We pick up the story from a document, a report to Parliament, dated April 14, by Mboweni, which begins: “To inform Parliament of the use of funds to defray expenditure of an exceptional nature which could not, without serious prejudice to the public interest, have been postponed to a future parliamentary appropriation of funds.”

Privatisation of ESKOM is not an option

It doesn't make any sense.

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Eskom burns on through bailout | Business | M&G🔒 Concerns are growing about whether Eskom will bankrupt itself to keep the lights on for the next 10 days until the national elections. This comes after the government coughed up a R5-billion emergency bailout at the beginning of April. 😳😳 question is can the count? What's a 0 here and there between themselves?
Source: mailandguardian - 🏆 2. / 92 Read more »