SA Politics Thread Part 12

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R13... said:
If you had read their report you'd have noticed that wasn't real and sustainable due to the disclaimers. Same as that transnet. What's your trouble with these eskom results?
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Im not going to fine tooth comb their financial statements and i know you haven't either.

I will just post this exerpt from Eskom themselves

Addressing a qualified audit opinion


Eskom received a qualified external audit opinion for FY2025 due to incomplete or inaccurately maintained records in terms of the Public Finance Management Act (PFMA). These records did not comply with legislative requirements relating to irregular expenditure and losses due to criminal conduct. Issues raised in the prior year’s audit qualification were not adequately addressed and continued into 2025. Several internal control deficiencies were also highlighted.


Furthermore, there is material uncertainty regarding Eskom’s going concern status, driven by dependence on government support, uncertainties related to operational assumptions and regulated revenue by NERSA, as well as growing municipal arrear debt and energy losses.
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www.eskom.co.za

Implementing the turnaround strategy returns Eskom to profitability for the first time in 8 years, profit before tax of R23.9 billion to be invested back into the business for critical infrastructure and energy security - Eskom

Tuesday, 30 September 2025: Eskom has announced its group annual results for the 2025 financial year ended 31 March 2025. Eskom started with its turnaround
www.eskom.co.za www.eskom.co.za
 
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R13... said:
If you had read their report you'd have noticed that wasn't real and sustainable due to the disclaimers. Same as that transnet. What's your trouble with these eskom results?
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Unsustainable increases... And a huge debt problem.

These do not make a sustainable business.
 
R13... said:
I personally find that moaners are unhappy when things improve because then they'd have nothing to moan about. I'm guessing you lot would be happier if load shedding returned and Eskom continued to lose money. It's South African culture.
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Eskom has been making genuine progress, but they are still losing money.

Meanwhile, the R64-billion debt relief support “enabled the redirection of cash from operations to vital capital expenditure and working capital, supported by upfront planning and ordering of spares”, Eskom said.
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Getting bailed out by taxpayers in the form of debt relief, and then claiming they are doing some miraculous turnaround to profitability is fraudulent.
 
Unhappy1 said:
Im not going to fine tooth comb their financial statements and i know you haven't either.

I will just post this exert from Eskom themselves


www.eskom.co.za

Implementing the turnaround strategy returns Eskom to profitability for the first time in 8 years, profit before tax of R23.9 billion to be invested back into the business for critical infrastructure and energy security - Eskom

Tuesday, 30 September 2025: Eskom has announced its group annual results for the 2025 financial year ended 31 March 2025. Eskom started with its turnaround
www.eskom.co.za www.eskom.co.za
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None material enough to flip their financial outcome. Those are all listen as risks they must manage.
 
konfab said:
Eskom has been making genuine progress, but they are still losing money.



Getting bailed out by taxpayers in the form of debt relief, and then claiming they are doing some miraculous turnaround to profitability is fraudulent.
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They had government support in the last financial year as well as others. They got 10bn less this year than last. And those audit factors existed previously @Unhappy1
 
R13... said:
None material enough to flip their financial outcome. Those are all listen as risks they must manage.
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Yes yes, ive heard it all before, not material until it is material. Im not going to jump up and down, i think its better to play a wait and see approach with Eskom and its not at all unreasonable that people might be dubious.
 
Solarion said:
It's not the DA you should be worried about. That's the least of your concerns at this point. AGOA loss has put millions of jobs at risk. That's going to be a lot of angry, unemployed voters. The DA are part of the GNU. They are just as much to blame don't worry.
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For @TheChamp :

South Africa’s formal sector shed 80 000 jobs in the second quarter of 2025, a 0.8% decline from March, raising renewed concerns about the country’s stubbornly high unemployment levels.

Statistics South Africa (Stats SA) reported on Tuesday that total employment fell from 10.59 million in March to 10.51 million in June.

Do we only have 10 million people formally employed?

 
R13... said:
I personally find that moaners are unhappy when things improve because then they'd have nothing to moan about. I'm guessing you lot would be happier if load shedding returned and Eskom continued to lose money. It's South African culture.
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Pointing out the obvious financial losses to the taxpayer means I want loadshedding to return? I stuck your statement into a logical fallacy detector:

Fallacy Detector​

I personally find that moaners are unhappy when things improve because then they'd have nothing to moan about. I'm guessing you lot would be happier if load shedding returned and Eskom continued to lose money. It's South African culture.
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Ad Hominem

Straw Man

Hasty Generalization
 
Mariner said:
Pointing out the obvious financial losses to the taxpayer means I want loadshedding to return? I stuck your statement into a logical fallacy detector:

Fallacy Detector​



Ad Hominem

Straw Man

Hasty Generalization
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I did the same with yours,
Appeal to Emotion: The statement appeals to taxpayers' emotions by emphasizing their financial burden without addressing the actual financial implications or providing logical reasoning for the claims made.
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I think this analysis is much more on point than your gobbledygook
 
R13... said:
I personally find that moaners are unhappy when things improve because then they'd have nothing to moan about. I'm guessing you lot would be happier if load shedding returned and Eskom continued to lose money. It's South African culture.
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Not sure who you would include under the moaners moniker, but I certainly see this Eskom success in a different light. They have enjoyed HUGE increases with legislation to cushion them from any failure (just charge more if you can't control the costs). Let's investigate a bit further at what cost that 16Bil profit for Eskom has come to the country.
 
ghaye said:
Not sure who you would include under the moaners moniker, but I certainly see this Eskom success in a different light. They have enjoyed HUGE increases with legislation to cushion them from any failure (just charge more if you can't control the costs). Let's investigate a bit further at what cost that 16Bil profit for Eskom has come to the country.
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I'd hazard a guess that first and second order impacts to the economy would be in the trillions.
Direct impact would comfortably be R500bn+ cost to the fiscus directly.
 
R13... said:
I did the same with yours,

I think this analysis is much more on point than your gobbledygook
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Maybe you can provide some refutation about my gobbledygook? You know, some facts and figures that prove Eskim has made a turnaround? Something like a balance sheet?
 
ghaye said:
Not sure who you would include under the moaners moniker, but I certainly see this Eskom success in a different light. They have enjoyed HUGE increases with legislation to cushion them from any failure (just charge more if you can't control the costs). Let's investigate a bit further at what cost that 16Bil profit for Eskom has come to the country.
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It seems there may be a negative return on investment.
 
Mariner said:
Maybe you can provide some refutation about my gobbledygook? You know, some facts and figures that prove Eskim has made a turnaround? Something like a balance sheet?
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Their balance sheet is on their website. Don't be a lazy local, go read it. I'm from Zim and read it.
 
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