Katlego Sekhu
Eskom has announced a staggering loss of R23.9 billion for the financial year that ended March 2023, a significant increase compared to the R12 billion over the last two financial years.
This loss is due in part to a significant increase in load-shedding, a growing municipal debt burden, and soaring losses attributed to criminal activities.
Eskom’s Acting Chief Group Executive, Calib Cassim said the significant loss does not tell a positive story.
“Although the financial loss was projected earlier in the year due to several factors, the results are not telling a positive story,” says Eskom acting group chief executive Calib Cassim.
“As government continues to support Eskom in improving the balance sheet and managing liquidity, we are pinning our hopes on the generation recovery initiatives which we have put much effort into during the year to turn the plant performance around, and these have begun yielding the desired results.
“The recent improvement in generation plant performance gives us assurance that we are on the right track to meet our future energy availability target, moving a step closer to addressing the issue of load-shedding. Indeed, there is a long road ahead, but we will continue to give our all, as a collective,” said Eskom’s Acting Chief Group Executive Calib Cassim.
959 Breakfast’s listeners shared their views on the following questions: “Where to from here for Eskom?” and “Should they continue taking these losses to mitigate disaster?”
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