Eskom is in crisis and should be treated as a crisis. The company is hopelessly bankrupt and operationally fragile due to years of looting, mismanagement and race obsession. The new CEO, André de Ruyter, has to be given comprehensive powers similar to that of a business rescue practitioner. If Eskom is not treated as if it is in business rescue, it is going to explode on itself and South Africa.
Asking in court documents that taxpayers should finance R1,8 billion in performance bonuses does not fall within a framework of crisis thinking. We did not have access to the documents, but if they ask for R1.8bn worth of performance bonuses to be financed, it is wrong. Eskom’s bonus policy states that bonuses will only be paid out if the company makes a profit. The policy is also applied in this way. Our members have not received bonuses for the past two years. It is common practice in all companies for bonuses to fund themselves. It should be that way in Eskom as
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