The Portfolio Committee of Public Enterprises heard at the hearing of the Department of Public Entities that Eskom was “technically bankrupt”. Eskom will no longer exist at the current projection by April 2019. The power supply’s R420bn debt burden currently accounts for 15% of the country’s debt and its revenue has increased fourfold since 2007..
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What did South-Africans used before candles? Electricity! – Eskom is apparently technically bankrupt and its R420bn debt currently accounts for 15% of the country’s debt – will no longer exist at the current projection by April 2019
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Municipal managers, which include a lot of technical bankrupt municipalities, now earn R3.9 million a year for doing nothing actually
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Municipal managers’ new salary structures have just come into force with the announcement that they will now “earn” R3.9 million a year. The second in command then gets about R3 million a year. In many cases, work is outsourced by several private companies, while officials do little work but still receive astronomical salaries. The huge..
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