An Eskom logo is seen at the utility's Megawatt Park headquarters in Johannesburg. Picture: BLOOMBERG/WALDO SWIEGERS
Options on the table include selling some of its old coal plants and accelerating the retirement of others, capturing carbon emissions, getting the state to take over half of its debt and converting R82bn of bonds held by a state-worker pension fund into equity. Years of so-called state capture have left a lasting mark on the company and it will take time to address the damage and change its culture, according to Gordhan. “In some cases you would want to fire somebody on the spot, but legislation won’t allow you to do that,” he said. “It would be nice to be able to do that — if you are caught red-handed you get fired right now, pack your bags, go home and find another job somewhere else.
Finance minister Enoch Godongwana will have to decide whether the government assumes part of Eskom’s debt by the time of the budget in February next year, giving consideration to the serious fiscal constraints the country is facing, he said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside Eskom sabotage: Delayed report reveals how insiders helped the power station criminalsA forensic report that went unnoticed by Eskom bosses for more than a year has lifted the lid on wholesale sabotage of infrastructure by unscrupulous contractors and employees. For not knowing abt sabotage right under their noses say something about them... Jokes make themselves neh😂🤣😂🤣😂 One cannot escape the fact that this is very alarming, and what makes it doubly damning, is that it has reportedly, being going on right under the noses of senior staff.
Source: TimesLIVE - 🏆 28. / 59 Read more »
DANIEL MALAN: Eskom needs an emphatic dose of business rescueGovernance and management of the power utility should be handed to an independent panel with credibility
Source: BDliveSA - 🏆 12. / 63 Read more »
DANIEL MALAN: Eskom needs an emphatic dose of business rescueGovernance and management of the power utility should be handed to an independent panel with credibility
Source: BDliveSA - 🏆 12. / 63 Read more »
‘Illegal contractor’ connecting Northern Cape and North West residents to the electricity gridEskom disconnected homes that were illegally connected to the grid in the Northern Cape this week. ?
Source: SowetanLIVE - 🏆 13. / 63 Read more »
Pravin Gordhan expects sale of SAA to be done by early 2022Gordhan says the emergence of the Omicron variant, which has prompted several countries to temporarily ban flights to SA, is unlikely to affect the price
Source: BDliveSA - 🏆 12. / 63 Read more »
DUMA GQUBULE: Treasury and Reserve Bank are putting Ramaphosa’s re-election at riskRamaphosa seems committed to economic policies guaranteed to result in rising unemployment
Source: BDliveSA - 🏆 12. / 63 Read more »