Posts tagged with 'Eskom'

 

14 SOEs rack up more than R1.4 billion in irregular expenditure

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Auditor General (AG) Kimi Makwetu said not one of the 14 big state-owned entities (SOEs) audited by his office received a clean audit, a poorer outcome than last year.

Makwetu was revealing the results of the national and provincial audits for the past financial year at Parliament on Wednesday. He said the financial health of SOEs remained under significant pressure with doubts about whether they could continue operating without further financial help from the government.

Makwetu said the 14 SOEs notched up R1.4 billion in irregular expenditure but warned this figure could rise as four of them – Denel, the SABC, SA Express and the SA Forestry Company could not make full disclosure on this.

Meanwhile, irregular expenditure racked up by Transnet (R49.9 billion) and Eskom (R6.6 billion), who have private auditors, amounted to R57 billion.

“The SA Post Office, for example, has slipped back to a qualified opinion and the Development Bank o
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Eskom problems not solved yet – Possibility of load shedding exists in the coming months

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The DA said in a statement on Thursday that it had reliably heard that Eskom had issued a warning to municipalities about the “strong possibility of load shedding in September and October” this year.

Natasha Mazzone, DA’s shadow minister of public affairs,  said in the statement that the opposition party has now written to Eskom chairman Jabu Mabuza for transparency in order to clarify the matter.

“Eskom has continually failed in its mandate to provide reliable and sustained electricity supply and it appears as if millions of South Africans and the faltering economy will be abandoned by Eskom again,” says Mazzone.

According to the statement, each load-bearing phase is estimated to cost the country about R1 billion a day.

“Eskom has repeatedly plunged our country into deep trouble. South Africa cannot afford a repeat of the load shedding of the country earlier this year, ”says Mazzone.

The DA is of
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Medupi and Kusile power stations are still “off the grid” due to poor construction work, corruption and cost overruns

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More than 600 senior officials from Eskom and some executives were informed of the entity’s “turnaround” plan. According to documentation, Eskom is sitting without cash and has almost completely collapsed on several occasions.

R130bn has been loaned to the power provider and the state is expected to help as government announces increased tariffs. Eskom unbundling continues but will take four years to finalize. So the future is still bleak around the entity with its overloaded workforce and top structure officials.

In the last two years, Eskom reported a loss of R2.3 billion while R19.6 billion was wasted on unauthorized expenses.

In the meantime, Medupi and Kusile power stations are still “off the grid” due to poor construction work, corruption and cost overruns.

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Taxpayers will now have to bailout the Ramaphosa regime after Moody lost patience with SA’s poor economic situation and proposes a tax increase

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The poor economic conditions, unemployment, little foreign interest, the land grab program, Eskom and other entities’ financial inability are all reasons why the country is in such a mess.

Moody’s has pointed out to the ANC-regime that it will have to raise taxes to fix the mess at Eskom, which is the first step to a series of tax hikes.

With the SABC, Denel, SAL, Eskom, and several other entities failing to be a profitable industry as it was years ago, the regime is pushing to raise taxes.

The poor decision to launch a National Health Plan while the country is in junk status is considered to be one of the stupidest decisions the Ramaphosa regime has yet made, which will also lead to astronomical increases in taxes.

Moving out of professional corps such as doctors, nursing staff, lawyers and others is the strongest indication that the country is heading for an enormous crisis that cannot be reversed.

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Guptas at it again – workers unpaid but lavish R100m double wedding planned – most likely funded by the ANC-regime?

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The Emirates Palace hotel in Abu Dhabi where the Gupta family are reportedly hosting a lavish double wedding in February 2019.

The Guptas are reported to be hosting a lavish double wedding at a palatial hotel in Abu Dhabi.

The AmaBhungane Centre for Investigative Journalism published a nine-page wedding invitation on Friday and said the bash, an event lasting five days between February 19 and 23, could end up costing as much as R100m.

“The wedding is a double-feature, with Rajesh ‘Tony’ Gupta’s daughter Shubhangi Singhala marrying Chetan Jain and Atul Gupta’s son Srikant Singhala tying the knot with Akhya Bansal.

“This is the third publicly lavish wedding the family has funded,” said AmaBhungane.

The logos of Gupta companies in South Africa, including the Koornfontein mine where miners have gone unpaid, are featured in the wedding invitation.

The publication said a request for comment direct
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Thanks to the ruling ANC regime, SA’s economy outlook is getting worse with Eskom already plunging the country deeper into debt

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In an exclusive interview conducted by Die Vryburger with a well-known political analyst, it seems that 2019 is not a year of good prospects.

The anonymous expert says the projections are getting darker with Eskom, who is already plunging the country into debt with loadshedding.

In addition to the enormous R2 billion it cost daily to endure load shedding, it has a very negative impact on potential investors abroad.

The recession in which SA is currently, along with the tremendous debt burden of the state, forces the Finance Minister to take unfavorable measures to balance the scale, but cannot tamper with it because the election is at the door.

He says there is no reason to think that it will improve in the economic sphere in the second half of 2019, because the Rand is doubtful, gold mines are shaky because of the power supply’s load shedding, and this increases the possibility of higher unemployment. means that less personal tax i
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Widespread corruption and mismanagement are the order of the day at KZN municipality – Eskom debt amounts to nearly R50 million – Municipalities under the control of the ANC are folding, one after another

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The ANC’s “policy” to make the country ungovernable is producing vigorous fruit.

The Abuqulusi municipality (Vryheid) owes Eskom just short of R50 million. Widespread corruption and mismanagement caused the council to be placed under administration.

Suddenly, the Natal Department of Co-operative Awakened Government and Traditional Affairs and stated that they were “stunned” about the state of the municipality.

Read the original article in Afrikaans on Die Vryburger

This report does not necessarily reflects the opinion of SA-news.

 

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Gordhan hires “specialists” to investigate unplanned rolling blackouts at Eskom’s, however the problems are largely due to inexperienced staff not having the ability to do the work according to requirements

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Gordhan hires 11 “specialists” to tend to Eskom’s problem, however the unplanned rolling blackouts is largely due to inexperienced staff in-service, and lacking the ability to do the work according to requirements.

Minister Pravin Gordhan has appointed eleven industry specialists as the “Eskom Technical Review Team”.

The coordinator is Dr Tsakani Mthombeni, chair of the Energy Intensive Consumer Group, and he also serves on Ramaphosa’s “Sustainable” Eskom Task Team.

The team must investigate unplanned maintenance outages that are not applied to a scheduled system.

Operators errors that cause units to turn off unplanned, technical and other operator related issues that prevent units from functioning effectively form part of what needs to be investigated.

However, experts argue that the problem is largely due to the inexperienced staff, and not having the ability to do the work accordin
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Natasha Mazzone (DA) fears Eskom could plunge SA into a “Chinese debt trap”, China is already taking countries for bad debts

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The revelations about Eskom are pouring in from the state capture inquiry. Natasha Mazzone believes their secret deals with China are “risky business”.

We’ve experienced a shuddering last few days at the state capture inquiry. Former Eskom executives who were present when the rot of corruption set in have lifted the lid on some pretty heinous behaviour: It’s been enough to convince Shadow Public Enterprises Minister Natasha Mazzone that the utility has put South Africa on a precipice.

Eskom’s risky business
Well, where do we start? We heard on Friday that ex-Chief Financial Officer Anoj Singh wanted to jump head-first into a R25 billion loan with Chinese firm Huarong Energy. Eskom treasurer Andre Pillay told the commission that the crippling financial deal only fell at the final hurdle when terms couldn’t be agreed later down the line.

Then you’ve got the jaw-dropping situation with Tegata: Eskom gave
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There you have it! – Chinese Bank Takes Absolute Control Over All Eskom Power Stations In South Africa If Default In Payment Plan Transpires

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In another huge loan of 33.4 billion rand the Chinese Exim Bank (Export-Import Bank of China) will take over the Eskom Facility Plant in South Africa. This was announced by a recent tweet from Exim Bank.

Eskom is a South African electricity public utility, established in 1923 as the Electricity Supply Commission. Eskom operates a number of notable power stations, including Kendal Power Station, and Koeberg nuclear power station in the Western Cape Province, the only nuclear power plant in Africa.

Eskom generates 95% of electricity in South Africa and has the only nuclear power station in Africa.

Can this actually be true?: Chinese Bank Takes Absolute Control Over All Eskom Power Stations In South Africa

The company is divide
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