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Eskom to Post Record Loss, According to Treasury Documents

SOUTH AFRICA
  • Fin24 write that Eskom is to post a record R21.2 billion loss for the last year - citing unaudited results disclosed by the National Treasury in Parliament.
  • Piece writes that Eskom's loss for the year comes despite a 9.61% tariff increase and an R21.9 billion bailout from the Treasury. It earned less revenue than anticipated and spent more, especially on diesel (R21.36 billion) which was more than double the previous financial year. Its debt stock swelled to R439 billion – about a 10% increase over the year – due to the weakening rand and borrowing activities.
  • Full piece: https://www.news24.com/fin24/economy/eskom-to-post...

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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