State-owned utility Eskom will have received close to half a trillion rand in state support almost two decades since it started imposing debilitating nationwide blackouts in 2008.
The figure includes Finance Minister Enoch Godongwana’s R254 billion relief package for Eskom, which was announced in February and hinges on the debt-laden company meeting pre-determined performance targets meant to wean itself off its reliance on public finances. Straying from the latest debt-relief plan would test the credibility of South Africa’s fiscal framework and budget processes in a country with a full house of junk credit ratings.
The rand has weakened more than 6% against the dollar this year, making it the worst performer in a basket of 16 major currencies tracked by Bloomberg.
The government has no business expertise and is incapable of managing any entity! It is not the job of government to run businesses, but to facilitate the running of business by the private sector.
So naturally it would be their duty to punish us for such magnanimity with higher electricity rates. Isn't the ANC's 'democratic socialism' just great?
Was it worth if? Of course not.
Pouring water to a bottomless hole
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State has given Eskom half a trillion rand since load shedding started | BusinessEskom will have received close to half a trillion rand in state support almost two decades since it started imposing debilitating nationwide blackouts in 2008. | News24_Business _Business _Business Insaine, thats like 400k houses that could have been bought and given to the people and really decent homes too... _Business All looted by MYANC! VoetsekANC AncIsCorrupt
Source: News24 - 🏆 4. / 80 Read more »
Eskom busy fixing fault at Koeberg power stationPower utility Eskom on Sunday said it was busy fixing a fault at Koeberg's Unit 2 which caused it to trip. Can we also look at RAND Water and it's activities this past week that led to this current situation. Note,this is not only due to Eskom issues Should people in Cape Town leave until the fault is fixed, asking for a friend!?
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Eskom hits back at stage 8 load-shedding claimsEskom has denied that it secretly implemented stage 8 load-shedding this past week, despite shaving over 7,000MW of demand off the grid at one point. No one believes eskom. Okay Eskom They should focus on the one job they have… they’ve fucked up enough as it is and they are not done, if it’s not about ending loadshedding they need to keep it to themselves…
Source: mybroadband - 🏆 11. / 67 Read more »
Koeberg Unit 2 coming back onlineEskom also provided some limited details about the cause of the trip. How true is that? I don’t trust anything in this country no more… Dank die Vader.
Source: mybroadband - 🏆 11. / 67 Read more »
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Source: CapeTownEtc - 🏆 17. / 63 Read more »
Eskom wage talks to start amid stage 6 rolling blackouts - SABC NewsThe National Union of Mineworkers (NUM) has confirmed that wage negotiations are set to start at Eskom this coming week, as some energy experts say that the country has hit stage eight rolling blackouts. These people earn so highly already moes, what more do they want? They did this last time we hit stage 6 once again taking south Africans hostage. The saying kak and betaal is yet again the mantra. When will it end. They demand increases and make us suffer in the process but businesses are closing and unemployment is rising. Greedy buggers 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣mzansi with possibilities with an average earners of R700,000 this needs more
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