Eskom to pay bonuses despite reports financial woes

Eskom has rejected allegations that it is left with at least R20 billion in its coffers following a report by the Sunday Times that the power utility still wants to pay bonuses to axed CEO Brian Molefe and suspended acting CEO Matshela Koko.

The Sunday Times said this is apparently contained in the power utility's latest financial statements.

Last week, the power utility postponed the release of its annual financial results, saying it was still meeting with role players.

Deputy Editor at the Financial Mail, Sikhonathi Mantshantsha has more on this story.

R20 billion - Eskom has before said it is a liquidity buffer and it is only enough cash for three months, that is all in their internal documents.

Sikhonathi Mantshantsha, Deputy Editor at the Financial Mail

Go back to December 2014, when they had R20 billion they approached the Minister of Pubic Enterprises and finance and said they needed a cash bailout... they had said they were running out of cash to pay salaries.

Sikhonathi Mantshantsha, Deputy Editor at the Financial Mail

Eskom is however confident that it can pay salaries and says it’s in a better financial situation compared to three years ago.

Click on the link below to listen to the full audio...

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
ANC NEC: Big question is whether they appeal KZN judgment - Brown

ANC NEC: Big question is whether they appeal KZN judgment - Brown

A special meeting is scheduled to take place on Friday morning and Karima Brown gives a preview of what may be on the agenda.

Phosa salutes Makhosi Khoza's choice to leave the ANC

Phosa salutes Makhosi Khoza's choice to leave the ANC

Former ANC Treasurer-General, Matthews Phosa says Makhosi Khoza has the freedom to disassociate herself with the party.

Kenyan court slams electoral board for failing to verify poll results

Kenyan court slams electoral board for failing to verify poll results

The court says the board did not ensure that the system of voting, counting and tallying of results was verifiable and accurate.

Poor parent involvement linked to ill-discipline in schools, says Education DG

Poor parent involvement linked to ill-discipline in schools, says Education DG

The department's Mathanzima Mweli says not enough parents play an active role is disciplining their children and rely on teachers.

Dlamini-Zuma to officially join Parliament's back benches today

Dlamini-Zuma to officially join Parliament's back benches today

ANC presidential hopeful Nkosazana Dlamini-Zuma officially enters into Parliamentary politics on Thursday, amid great speculation.

Why 'Ford Kuga' are words you’ll hear today

Why 'Ford Kuga' are words you’ll hear today

Ford South Africa has launched the new Ford Kuga range and the public is already coming up with hilariously lit commentary.

Popular articles
[LISTEN] Makhosi Khoza spills the beans on why she quit the ANC

[LISTEN] Makhosi Khoza spills the beans on why she quit the ANC

She says President Zuma was uncomfortable with her and her decisions which saw changes to the ANC and Motsoeneng ousted.

[Watch] Payday dance: Never a dull moment in Cape Town

[Watch] Payday dance: Never a dull moment in Cape Town

Even slow-moving traffic cannot dampen the mood in Cape Town because payday came early. Watch Capetonians celebrating payday.

Outa files urgent court interdict to freeze Gupta money

Outa files urgent court interdict to freeze Gupta money

Outa wants to prevent the money leaving SA as it is meant for the rehabilitating areas in which Gupta mines were situated.

KPMG International's meeting with Pravin Gordhan

KPMG International's meeting with Pravin Gordhan

The Money Show’s Bruce Whitfield interviews Pauli van Wyk, a journalist with Scorpio at Daily Maverick.

Ocean View activist speaks: We have had 20 murders in 2017 alone

Ocean View activist speaks: We have had 20 murders in 2017 alone

Sharone Daniels, a community activist in Cape Town's Ocean View says they need police intervention to end gang violence.

[WATCH] Day-Zero for water running out fast approaching?

[WATCH] Day-Zero for water running out fast approaching?

A government employee emailed John Maytham about what he or she believes is the real state of play with the Cape water crisis.