Business Day has before expressed our admiration of and gratitude to the new leadership at Eskom, chairman Jabu Mabuza and CE Phakamani Hadebe, for taking on the unenviable task of saving the power utility. After more than five years of rampant looting and a decade or more of short-sighted political interference and misguided strategy, the company is on its knees. Mabuza and Hadebe’s decisions to serve Eskom are, in social media parlance, #CountryDuty. But this doesn’t mean that they will succeed, or that Eskom can be saved. The two, along with acting chief financial officer Calib Cassim, presented Eskom’s results for 2018 on Monday, pointing out that for the year under review, the new leadership had been in charge for only 69 days. The audit was qualified, mainly due to procurement issues under the Public Finance Management Act, with R19.6bn of expenditure deemed "irregular". Some of this arose from noncompliance with procedure; some of it was fruitless and wasteful. To deal with c...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.