The SIU is going after members of the Gupta family, and former Eskom executives, board members and other associates in an effort to recoup R3.8-billion that the power utility lost when the Gupta family acquired Optimum Coal.
Browsing: Eskom
Eskom plans to cancel a contract to buy as much as R14-billion of fuel oil from Econ Oil & Energy after a probe it commissioned found Econ’s fees had been inflated.
André de Ruyter, the CEO of South Africa’s debt-stricken state power utility, is navigating a political minefield as he collects overdue debt, reduces electricity theft and bolsters revenue.
Six of Eskom’s generation units tripped on Monday, dramatically increasing the chances of the return of rolling blackouts this week.
Eskom’s gross debt surged to R480-billion after the struggling state-owned power utility borrowed from its lines of credit, documents show.
Eskom’s own mishandling of a repair contract led to the closure of its Camden power plant, a move that worsened power cuts by South Africa’s near-monopoly electricity provider, the company said.
South Africa can fix Eskom’s balance sheet by transferring its guaranteed debt to the government’s balance sheet, according to the former CEO of Goldman Sachs Group in sub-Saharan Africa.
State-owned power monopoly Eskom cannot say how long a new round of power cuts that began on Friday will last, its spokesman Sikonathi Mantshantsha said.
Promoted | IT experts from major South African companies recently shared their experiences at a TechCentral CIO Vision Roundtable on DevOps, and hosted by Micro Focus.
Eskom will escalate the load shedding level from 1 to 2 at 2pm on Wednesday after it blamed high demand for the need to ramp up the rolling nationwide blackouts.