The Public Investment Corp’s board of directors offered to resign amid an inquiry into allegations of wrongdoing, throwing the South African manager of more than R2-trillion deeper into crisis.
Browsing: Eskom
Government will announce within a month how it plans to fix Eskom, the embattled state utility that supplies more than…
EOH Holdings said on Wednesday that it was cleared of involvement over allegations of misconduct at Eskom.
EOH Holdings shares plummeted on Tuesday after Eskom published allegations that its former chief procurement officer was involved in acts of misconduct involving the listed technology group.
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.
South Africa is considering doubling the amount of electricity it plans to buy from a proposed multibillion-dollar hydro power plant in the Democratic Republic of Congo.
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.
The failure of energy regulator Nersa to register small-scale solar photovoltaic installations in Eskom electricity distribution areas is costing farmers dearly, says Ig du Plessis, director of power consultancy Sonfin.