Eskom’s chief financial officer, Anoj Singh, is a remarkable man. A lesser man would have long since fled the scene of the crime or perhaps even cried. But Singh is shameless.
The positive spin he put on the financial results at last Wednesday’s presentation was probably to be expected. He focused on the 14% increase in earnings before interest, tax, depreciation and amortisation. In a debt-laden entity such as Eskom, which is also in the process of bringing large and expensive assets onto its balance sheet, this is not the best indicator of financial health.