Eskom ‘technically bankrupt’ as debt hits R400 billion

[BusinessTech]

Eskom ‘technically bankrupt’ as debt hits R400 billion

Outa says it welcomes Parliament’s Public Enterprise report on Eskom which implicates previous ministers Lynn Brown, Malusi Gigaba and others.

 

[krycor]

Lmfao..

 

[grok]

Don't forget how Eksdom got rid of experienced whites as part of their BEE & transformation. Seems that was a mistake after all..

 

[thestaggy]

More of this ''technically'' stuff.

Its f***ed, plain and simple.

 

[Deadmanza]

The solution is obvious. Let's bail them out

 

[Pineapple Smurf]

Show me one successful SOE and I will show you a chicken with copper balls
Doesn't exist

 

[Agent_Smith]

So Eskom is going the same way as SAA. Bailouts coming every other month now. The only difference is the SAA meltdown doesn't affect the majority of the population. It is only a tiny percentage of us that can afford to go 'off the grid' electricity generation-wise. The rest of us (illegally connected people aside) are the ones who are going to bear the brunt of their ineptitude and incompetence.

#ThanksANC

 

[R13...]

More of this ''technically'' stuff.

Its f***ed, plain and simple.

Is it bankrupt though? Technically or otherwise? I mean yeah they've screwed it up good but it still appears to still be able to meet its obligations.

 

[Pineapple Smurf]

Another Comedy Article
https://www.iol.co.za/news/politics/im-a-scapegoat-for-state-looters-says-jacobzuma-18310424

 

[Temujin]

Don't forget how Eksdom got rid of experienced whites as part of their BEE & transformation. Seems that was a mistake after all..

Eksdom doesn't make mistakes. This is clearly the result of a WMC plot, possibly in cahoots with those who were 'ridded' as they knew the ins and outs of the system

White nazi racists out to undermine progress and hold back the success of ANC SA /nod

 

[thestaggy]

Is it bankrupt though? Technically or otherwise? I mean yeah they've screwed it up good but it still appears to still be able to meet its obligations.

Well, the debt levels continue to climb and Eskom cannot meet its obligations without continually driving up tariffs or requesting assistance from government. To me that is an unsustainable company and if government stopped pouring money in to it it is highly likely that it would default.

 

[Lew Skannen]

This would have been funny had it not been so serious.

 

[PhireSide]

A good story to tell...

 

[The_Librarian]

Another ANC success story.

All those ANC supporters - how come you still support that party which allowed such a thing to happen? Are you blind to reality?

 

[Lupus]

Stop paying execs millions as bonuses. They've clearly not done their jobs

 

[Milano]

Is it bankrupt though? Technically or otherwise? I mean yeah they've screwed it up good but it still appears to still be able to meet its obligations.

It? You do understand who guarantees Eskom's debt right? You know what a state owned enterprise is? Really hope that dumb is just a role you are playing.

 

[lucifir]

hopefully this forces them to open up the market and end this monopoly

 

[Lupus]

hopefully this forces them to open up the market and end this monopoly

Like it did with Telkom? Like it did with the Post office? This is the ANC they want to milk everything as far as possible.

 

[Tman*]

Big part of this is the outstanding bills from municipalities.

I rate the 1st step to recovery would be to cutt out the middle man, and let consumers pay their electricity bill directly with Eskom.

 

[lucifir]

Like it did with Telkom? Like it did with the Post office? This is the ANC they want to milk everything as far as possible.

Telkom is the only one that worked, but that could be due to sites like this, forcing the issue.
Where's the mybb of electricity
But you are right, they will milk it till the udders are dry and full of dust