Carol Paton Writer at Large

Eskom revealed a set of dire financial results on Tuesday, a sure sign that the power company is caught in a death spiral with no plan in sight to get out of it.

Announcing a record R20.7bn loss for the year ended March 2019, Eskom executives warned that the blood-letting was not over yet and a similar size loss was projected for 2020 as debt costs grow and revenue shrinks.

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