Recent evidence splashed across newspaper front pages and televised hearings about bribes and sweetheart deals suggest the rot runs far deeper than most people thought.
Browsing: Cyril Ramaphosa
Government will announce within a month how it plans to fix Eskom, the embattled state utility that supplies more than…
Eskom is facing a mounting repair bill at two new coal-fired power stations that are still under construction, compounding its already dire financial situation.
Government is pushing Eskom, the power utility with R419-billion in debt, to present a credible turnaround strategy before the 20 February budget presentation, a person familiar with the situation said.
Eskom expects to report a loss of more than R15-billion in the year to 31 March, a record for any state-owned company.
Eskom will extend its strategy of trimming top executive positions to include lower ranking managers and finally the general workforce, according to a person familiar with the plans.
President Cyril Ramaphosa has signalled he doesn’t back a proposal from the struggling state-owned power utility for the government to assume a large portion of its debt.
President Cyril Ramaphosa has accepted the resignations of four board members of the financially distressed SABC, placing pressure on parliament to appoint replacements on an urgent basis.
Eskom wants government to absorb about R100-billion of debt as part of a rescue plan for the state-owned utility, according to a report, a move that will put further strain on already stretched state finances.
It’s deja vu for South Africa as a chronic power deficit plunges large tracts of the country into darkness and casts a pall over the already struggling economy.