Godongwana exempts Eskom from reporting wasteful and irregular expenditure for 3 years

Lol with these sorts of justifications given publicly, I wonder if they considered that the credit agencies will look like idiots if they don't at least consider lowering eskom's rating now....
 
So instead of properly tackling corruption / "irregular expenditure" we'll just stop reporting on it. That's where we're at as a country, the best solution we can come up with. Sad.
 
Jan said:
Eskom exempted from reporting wasteful and irregular spending to spare its credit rating

South Africa will exempt its beleaguered power utility from reporting irregular spending for the next two years to avoid harming the company’s credit rating.

The decision was announced in a government gazette on March 31. In a letter to Eskom Holdings SOC Ltd.’s chairman, Mpho Makwana, Finance Minister Enoch Godongwana said Eskom will still need to report losses arising because of criminal conduct and disciplinary measures related to wasteful expenditure.
Click to expand...
Yes, who is going to be retarded enough to lend money to an organisation that isn’t obliged to report its financial behaviour.

Oh right, the SA government :laugh:
 
Actually open the article to check the date

Hoping

Damn when every day feels like april fools
 
So Andre was right about the corruption at the top?
The talking heads who wanted to question him only need to speak to the Minister of (non) Finances. Apparently he is up to speed on the subject.
But, apart from all the bs, how can a HUGE organisation like Eskom not have enough resources to do their books properly. It STINKS!!
 
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