NO MASKING THE LOSSES

10th September 2021

NO MASKING THE LOSSES

Photo by: Creamer Media's Donna Slater

Eskom chairperson Professor Malegapuru Makgoba, CEO Andre de Ruyter and CFO Calib Cassim were all masked up in line with Covid-19 health protocols when delivering the electricity utility’s results for the 2020/21 financial year. Despite some improvements, Eskom’s debt mountain was yet again insurmountable, and contributed to yet another massive loss of close to R19-billion. While losses might shrink slightly in the coming years, it is going to be up to the taxpayer to sustain Eskom’s going-concern status unless and until a viable solution is found to the debt problem.