As Eskom’s beleaguered chief financial officer presents the utility’s annual results at the Franklin Auditorium in Megawatt Park on Wednesday, he may commit a crime that could result in him and his fellow directors facing trial for contraventions of the Companies Act. What he says, or does not say, may lead to him and the entire Eskom board being declared delinquent directors, which could result in them not being eligible to act as company directors for the rest of their lives. At the weekend, media reports emerged — as they did in 2015 — that Eskom would not have enough money to honour its obligations as they become due in the next few months. Also as in 2015, Eskom was quick to dismiss the reports. But back then Eskom did require a bail-out from the state, and the ertswhile chairman, Ben Ngubane, was reported to have said that with R20bn in the kitty, the utility only had enough liquidity to cover its requirements for three months. With the recent reports of malfeasance, speculati...

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