Addressing the media ahead of the medium term budget policy statement in Cape Town on Wednesday, Mboweni described the power utility as being treated like “spoilt brat” who was given money without sufficient accountability, a situation Director-General Dondo Mogajane also likened to Father Christmas giving a child free sweets whenever it wanted.
“For the sizeable support required, it cannot be business as usual. Eskom must do the following: Run its current plant and equipment better, achieve other operational efficiencies, including much better cash management and fast track the separation of the utility into three parts as endorsed by the political principals.Mboweni said, for the power utility, any more financial support would be in the form of loans.
The loans would be against the strength of the financial books of each of the envisaged units Eskom is split into. On South African Airways , Mboweni said the airline’s hopes of ever making enough money to sustain itself in its current configuration are non-existent.
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