Eskom to receive an extra R59 billion from government

Jamie McKane

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Eskom to receive an extra R59 billion from government

South Africa will ramp up support for its ailing state-owned power utility Eskom Holdings SOC Ltd. with an additional 59 billion rand ($4.2 billion) spread over two years.

The electricity company, which is seen as the biggest threat to the nation’s economy, will get 26 billion rand of the money this financial year and 33 billion in 2020-21, according to a copy of a special appropriations bill seen by Bloomberg.

[Bloomberg]
 

lkswan747

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Brace yourself for tariff increases as well as an increase in personal income taxes :mad::mad:
 

evilstebunny

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How will they ever learn when every time they peep they get a handout?
In fact, they'd be super stupid for reigning in corruption or spending since the next payout and the one after that and the one after that etc. is virtually guaranteed.
 

Fuzzbox

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More money for the trough.
Get rid of the 30000 workers that are not necessary.
 
Last edited:

LaraC

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“There is a disappointing lack of further detail on what the money will be used for or how it will be funded,” said Peter Attard Montalto, head of capital markets research at Intellidex.
Hopefully it isn't a free for all. :oops:
 

BeerIsNotGood...

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Eskom to receive an extra R59 billion from government

South Africa will ramp up support for its ailing state-owned power utility Eskom Holdings SOC Ltd. with an additional 59 billion rand ($4.2 billion) spread over two years.

The electricity company, which is seen as the biggest threat to the nation’s economy, will get 26 billion rand of the money this financial year and 33 billion in 2020-21, according to a copy of a special appropriations bill seen by Bloomberg.

[Bloomberg]
:X3:
 

smi

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Where is all this money coming from, if the economy is so screwed like people are saying. Makes no sense to me
 

eg2505

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Where is all this money coming from, if the economy is so screwed like people are saying. Makes no sense to me
from where else? the taxpayers,
somebody got to pay for all those BMW's and convoys.

the ANC will throw SA under the Bus if it means they can get another BMW.
sustainability and good governance isnt in their nature.
 

smi

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The tax payer doesn't have much left to pay anymore.

I am looking at every available option to reduce my tax to SARS. Even going as far as looking into a non tax status citizen.

My income isn't SA generated anymore or paid into
SA bank accounts.

If I have to leave because they want more, so be it.

They dont deserve a stinking toilet full of excrement as a xmas gift
 
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