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 tariff increase expected – Hmm for Molefe R11-million golden handshake?
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Eskom wants to give Molefe R11-million golden handshake
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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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Did Guptas sell mines they didn’t own? The Zuma and Guptas stories is just getting interesting day by day.
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Many questions remain about the Gupta family’s announcement on Wednesday that it was selling Tegeta Exploration, a company with coal mines that, according to Eskom, are critical for keeping the lights on in the country. But two questions stand out: Who is buying Tegeta, and who is selling it? Neighbours in the vicinity of the..
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Are the Guptas starting to feel the heat?
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Gupta-owned Oakbay Investments has sold Tegeta Exploration and Resources to Swiss-based Charles King SA for R2.97-billion, it announced on Wednesday. The firm is at the centre of former Public Protector Thuli Madonsela’s State of Capture report, which found irregularities with its dealings with Eskom. Brian Molefe stepped down as a result of the report in..
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Energy fund faces ruin if state mining company moves to Zwane’s department.
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The Central Energy Fund (CEF) faces financial ruin when Energy Minister Mmamoloko Kubayi hands the state’s mining company, African Exploration Mining and Finance Corporation, to the department of mineral resources. This will take place in the few months left of this financial year. Sources in the department have told the Mail & Guardian it will..
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R150-million “winter challenge” bonanza considered by bankrupt Eskom – Please tell us where you will get the money from?
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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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Gigaba wants to withdraw Treasury’s report on Eskom’s coal supply agreements
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Finance Minister Malusi Gigaba has told Parliament the Treasury’s damning report on Eskom’s coal supply agreements with Tegeta Exploration and Resources had been mistakenly marked as “final” and had to be withdrawn. The Treasury sent the report to the standing committee on public accounts, but now said it had not been finalised, according to Gigaba’s..
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Gupta-linked finance chief of Eskom Anoj Singh- suspended
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State-owned power utility Eskom has suspended its chief financial officer Anoj Singh on a precautionary basis‚ pending the outcome of a forensic investigation. The suspension‚ The Times has learned‚ follows an urgent intervention by Finance Minister Malusi Gigaba and his counterpart at Public Enterprises Lynne Brown. This comes after Eskom was faced with a threat..
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Eskom, where does all the money go? – This is daylight robbery!
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The average four-person South African household should pay R290 a month for electricity, yet Eskom is charging them roughly R1,200, says a lobby group. Now Eskom is seeking a 20% tariff increase from the National Energy Regulator of South Africa (Nersa). Energy analysts have described Nersa, which starts its public hearings into the proposed tariff..
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Corruption: How The ANC, supported by the World, shapes up against The NP with sanctions
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Whilst it is hardly a fair comparison, given that ANC had the whole world, the mass media and all its money behind them, and NP had all the world and its money and mass media against them, Ed Herbst, using his 49 years of covering the South African story, makes some telling comparisons and observations on..
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Broke Eskom to splash on bonuses to executives Molefe, Koko
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Disgraced Molefe first in line for fat payout even as utility fields woeful balance sheet. Eskom, which is struggling to survive financially, wants to pay millions in bonuses to axed CEO Brian Molefe, suspended acting CEO Matshela Koko, and others. Molefe and Koko were implicated in questionable conduct while in charge of the power utility…
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There are so many red flags in ESKOM … where do you start ??
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South Africa’s state owned enterprises have been hit by one scandal after another signalling serious political and corporate governance failures. The largest of these, the power utility Eskom, has seen its CEO Brian Molefe resign, then return, and then be fired – all in the space of seven months. This was followed by the unexpected..
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Survé, Guptas Imitate Ethos, Practices Of Apartheid Newspapers
Nightmares have a name, and it’s called Eskom – electricity price hike submitted to National Treasury
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This madness has got to stop.For many South Africans, nightmare could become a five-letter word: Eskom. Even as in-and-out CEO Brian Molefe takes the power utility to court to challenge the decision to overturn his reappointment, Eskom is asking for eye-watering increases in electricity prices. Moneyweb has reported that Eskom wants its clients to pay..
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DA lays treason charge against Zuma, Gupta Inc. and many more !!
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The Democratic Alliance has laid charges against Jacob Zuma, three Gupta brothers and eight others of treason, racketeering and corruption. DA leader Mmusi Maimane said on Tuesday that the party has accused those allegedly implicated in state capture of violating the Prevention of Combatting of Corrupt Activities Act and the Prevention of Organised Crime Act…
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