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Thread: Irregular spending at Eskom rises to R19.6 billion

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    MyBroadband Journalist Jamie McKane's Avatar
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    Default Irregular spending at Eskom rises to R19.6 billion

    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]

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    Everyone takes a "little bit", and poof, billions are gone.

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

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    The scary part is, unlike SAA, we actually need a power utility.

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    Super Grandmaster Kosmik's Avatar
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    And they still have the balls to ask for increase after increase while holding the country hostage with load shedding threats.
    Neo-Luddite - Permanent Darwin award candidates

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    Easy to fix - ask the banks for R20 billion for the next few years.

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    Quote Originally Posted by Gaz{M} View Post
    The scary part is, unlike SAA, we actually need a power utility.

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    Quote Originally Posted by Gaz{M} View Post
    The scary part is, unlike SAA, we actually need a power utility.
    electricity is a colonial aspect, one day the masses will be happy when there is none
    + --------------------- +
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