DA calls on Minister Brown to reject bonus request for Eskom executives

Postado Julho 17, 2017

The Sunday Times added that "Eskom has only enough cash to last it for the next three months". "It is important to reiterate that Eskom is not facing any liquidity challenges, and that the company is confident that it will maintain sufficient liquidity to support its operations", it said.

Earlier this week, the beleaguered state-owned power utility said it was considering selling assets as part of a 14-point plan to revive an economy that's in its second recession in nearly a decade.

"Clearly, Eskom finances are in a shambles".

"As a result the company sees these reports as being inaccurate and misleading". Only good performance should be rewarded, yet Eskom is clearly intent on doing the opposite...

Eskom has also maintained access to capital markets and raised committed funding.

The Minister of Public Enterprises, Lynne Brown, has the power to stop the handover of millions of public money to Eskom executives who have utterly failed, and in some cases, are the cause of the dire financial situation at the power utility.

The fact is that Eskom may not be able to pay salaries to its 49 000 employees come November.

According to the newspaper report, Eskom is in a "precarious financial position" and only has R20bn left.

Eskom's spokesperson, Khulu Phasiwe, said that the board had 30 days to "take appropriate steps to mitigate the risks identified, after which the external auditors are then required to ... confirm if the irregularities are continuing or not".

Koko has been on special leave since May, pending an investigation into an apparent conflict of interests, while a legal battle continues into the reinstatement and subsequent removal of Molefe. "The true state of Eskom's financial situation is markedly different from the picture of excellence painted by Mr Ben Ngubane when he and the board appeared before the portfolio committee on public enterprises less than two months ago", said DA Shadow Minister of Public Enterprises, Natasha Mazzone.