04 February 2020 - 15:02No-one wants the lights to go off. Not the companies that require electricity to produce their goods and services, citizens who need household electricity, or Eskom employees who need their jobs. But this is precisely what will happen if Eskom cannot find a solution to its mammoth R450bn-plus debt. Eskoms financial situation is so dire that it is unable to finance its operations without continued bailouts.
This law legislated a shift in how the pension fund was managed, moving from a pay-as-you-go scheme to a fully funded one. It is not possible to separate the current crisis at state-owned enterprises such as Eskom from the problem of corruption. Unfortunately, we cannot attribute corruption to a few bad individuals only. We have to understand corruption in relation to how the governing party has prioritised a narrow class project aimed atThis project has been embraced by both international corporate powers and old monopoly capital, left untouched by the negotiated .
Government Employees Pension Fund is a defined benefit fund Industrial Development Corp & Development Bank of Southern Africa are SOE. All 3 - any shortfalls and losses are covered by tax payers. Smoke and mirrors - the Eskom debt is being dumped on tax payers.
Reading your article it would seem to be trending that way. The country has to have electricity - with constant outages there is not much more that needs to be said.Something has to be done to get the economy moving - providing there is a fundamental grasp of the consequences
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