Eskom chairman Jabu Mabuza during the power utility’s annual financial results presentation on November 28, 2018 in Johannesburg, South Africa. During the presentation, it was revealed that Eskom’s debt service costs have doubled in a one year to R45bn.
Jabu Mabuza addressed the Portfolio Committee on Public Enterprises on Wednesday and announced Eskom is owed R20 billion by municipalities.
The chief executive officer announced that the power utility is in a critical condition as government’s financial support only addresses short-term liquidity, and Mabuza revealed that these issues will be detailed in the progress report, National Treasury and the Minister of Finance are currently working on.
Mabuza noted that there is a need in establishing an energy plan for the power utility, as the country’s condition is critical in an ever-changing energy landscape; he stated that the annual report will be made public and it will prove Eskom’s financial perfo
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