Reporting months after the legislated deadline, Eskom on Thursday reported an eye-watering R55bn loss and qualified audit-outcome for the financial year ended 31 March 2024.

This is more than double the previous year’s R26bn loss but includes a tax write-back of a deferred tax asset of R36.6bn. The write-back is related to the unbundling of the profitable transmission division into an independent subsidiary, the National Transmission Company of SA (NTCSA). This is an accounting matter and does not reflect cash flow...

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