Eskom incurred a R20.5bn net loss for its 2020 financial year as the utility continued to grapple with significant financial and operational challenges.

“It’s fair to say the results are disappointing,” CEO Andre de Ruyter said at the release of the long-delayed 2020 annual results on Friday. “Our financial position remains challenging, largely as a result of our debt but also because of tariffs that are not cost reflective.”..

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