Irregular spending at Eskom rises to R19.6 billion

Jamie McKane

MyBroadband Journalist
Super Moderator
Joined
Mar 2, 2016
Messages
2,317
#1
Irregular spending at Eskom rises to R19.6 billion

Irregular spending at Eskom Holdings SOC Ltd. swelled to 19.6 billion rand ($1.5 billion) as South Africa’s state-owned power utility comes under pressure to restore its credibility and improve its finances.

Irregular expenditure, or spending incurred in contravention of or not according to applicable laws, “has increased significantly as a result of the cleaning-up exercise” at the electricity producer that generates about 90 percent of South Africa’s power, it said in a report released Tuesday.

[Bloomberg]
 

The_MAC

Expert Member
Joined
Oct 11, 2012
Messages
3,853
#2
Everyone takes a "little bit", and poof, billions are gone.

Just a small replica of what's happening in Government..
 

Kosmik

Honorary Master
Joined
Sep 21, 2007
Messages
17,552
#4
And they still have the balls to ask for increase after increase while holding the country hostage with load shedding threats.
 
Top