No end in sight to the Eskom crisis
The heavily indebted power utility announces a record annual loss of R20.7bn
31 July 2019 - 05:10
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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