Eskom’s troubles are undeniably big. But from a bird’s-eye view, they are also very simple: quite plainly, SA’s largest state-owned company is not generating enough money to cover its enormous costs.

In the annual results for the financial year ended March 2019, Eskom reported a severely worsened financial position — a loss of almost R21bn after tax, against a R2.3bn loss in the previous year.

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