Just in SA – Power tariffs increase, municipalities do not pay

Eskom has tried to explain their request for a tariff increase of almost 20 percent to Nersa, but it seems that several municipalities simply do not pay for Eskom services. Direct consumers of Eskom Power, such as farmers and industries, will be severely affected by the requested tariff increase. Now it appears that Eskom does […]
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ESKOM FACING CASHFLOW TROUBLE – THEN STOP SPENDING MONEY ON BONUSES

Eskom spokesman Khulu Phasiwe said the firm’s sales growth had been muted while its operating cost was very high and its tariff for the current financial year was low. South Africa’s scandal-plagued power utility Eskom said on Monday it was not insolvent but was facing serious liquidity issues and would be in “trouble” if the […]
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BLSA tells Eskom: ‘You remain suspended’

Business Leadership SA on Monday reiterated the suspension of Eskom from the organisation. BLSA said it is holding high-level discussions with Eskom’s acting CEO‚ Sean Maritz‚ regarding serious allegations of corruption and state capture that had led to the suspension of the power utility from the organisation. “The first of these meetings was held on […]
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McKINSEY DOSSIER – Part 1: How McKINSEY And Trillian Ripped R1.6B From ESKOM – And Planned To Take R7.8BN More

It is now well-established that global consultants McKinsey and their local Gupta-linked counterpart Trillian extracted R1.6-billion in fees for “turnaround” advice given to Eskom. In this investigation, the first in a series, we delve into an explosive report that says Eskom ignored warnings that the proposed contract might be illegal, and reveal internal documents detailing […]
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Business Leadership South Africa suspends Eskom and Transnet

Business Leadership South Africa on Thursday booted out state-owned entities Eskom and Transnet for their involvement in corruption and state capture with immediate effect. The announcement comes as BLSA launched its #BusinessBelieves campaign in Cape Town, where it signed a “contract” with South Africa, pledging to do even more to create jobs and grow and […]
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Business Leadership South Africa kicks out Eskom‚ Transnet

Business Leadership South Africa (BLSA) has suspended the membership of state entities Eskom and Transnet with immediate effect. The decision follows “extensive allegations of corrupt behaviour”‚ the business lobby group said. BLSA CEO Bonang Mohale said in a statement: “South Africans have been rightly disturbed in recent times at the numerous allegations of corrupt behaviour […]
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Suspended Eskom CFO faces charges of corruption

Charges of corruption and financial misconduct have been laid against Eskom’s suspended chief financial officer‚ Anoj Singh. The Organisation Undoing Tax Abuse laid the charges on Tuesday morning at the Randburg police station. The charges come after Eskom on Monday admitted to lying about payments which benefited the embattled Gupta family through the Trillian business […]
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Eskom tariff increase expected – Hmm for Molefe R11-million golden handshake?

After the Constitutional Court’s ruling that Nersa can give Eskom approval for the increase in electricity prices, economists are worried that the power utility may increase the rate by as much as 20%. Eskom has an estimated R61 billion shortfall to surpass, but any significant increases will cause an already stumbling economy to come to […]
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Eskom wants to give Molefe R11-million golden handshake

Public Enterprises Minister Lynne Brown this week quashed yet another bid by Eskom’s board to pay former CEO Brian Molefe a multimillion-rand golden handshake. The request to pay Molefe a settlement of R11.2-million was made to Brown by interim board chairman Zethembe Khoza. It came just months after the minister rejected an initial bid to […]
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R150-million “winter challenge” bonanza considered by bankrupt Eskom – Please tell us where you will get the money from?

Cash-strapped Eskom is considering paying its employees a R150-million “winter challenge” bonus for avoiding power cuts, a move that has been slammed by Public Enterprises Minister Lynne Brown. The submission comes a month after the power utility reportedly paid R4.2-billion in performance bonuses to staff, and two months after Brown approved bonuses totaling R13-million for […]
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