We are in a very dire financial situation - Eskom

Eskom says it is in a very dire financial situation which is why its kept its pay offer to workers at zero percent.

The parastatal has been working to clean up operations amid issues of corruption and maladministration.

READ: 'Eskom is making workers pay for management's mismanagement and corruption'

ALSO READ: Eskom in early stages of its investigations into alleged corrupt officials

Eskom spokesperson Khulu Phasiwe says the company does not have enough money to pay bonuses or give salary increases.

For many months, since July last year, we have been battling in terms of raising money within the domestic and international markets and for nearly ten years now, we as a company have been seeing a slow down in terms of our revenue.

Khulu Phasiwe, Eskom spokesperson

The issue that Eskom has been facing in all fairness is not related directly to this issue of corruption, for more than ten years now, our sales as a country have been just less than one percent...

Khulu Phasiwe, Eskom spokesperson

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


This article first appeared on 702 : We are in a very dire financial situation - Eskom


Recommended

by NEWSROOM AI
Read More
[LISTEN] 'We are sitting at 15 to 20 days worth of new mail that is behind'

[LISTEN] 'We are sitting at 15 to 20 days worth of new mail that is behind'

CEO of the Post Office Mark Barnes explains that there is a number of factors that have led to a mail backlog.

Eskom says it's doing everything it can to avoid power outages

Eskom says it's doing everything it can to avoid power outages

The power utility has confirmed 10 of its power stations are running low on coal.

'Eskom is making workers pay for management's mismanagement and corruption'

'Eskom is making workers pay for management's mismanagement and corruption'

Saftu says Eskom will be retrenching 10 000 jobs in the next three years on top of the wage cut this year.

MPs to summons ministers over nearly R14bn owed to Eskom

MPs to summons ministers over nearly R14bn owed to Eskom

Billions is owed to the parastatal by municipalities across the country.

Eskom mum on why it suspended three managers

Eskom mum on why it suspended three managers

Energy expert Chris Yelland believes this move relates to the coal shortages at Eskom.

Eskom's plan to keep the lights on

Eskom's plan to keep the lights on

After running out of capacity in 2008, Eskom embarked on the biggest build program in its history and you are paying for it.

Popular articles
ConCourt rules dagga legal for private use, but what is private?

ConCourt rules dagga legal for private use, but what is private?

Associate Professor of Law at Wits University James Grant says the ConCourt did not define what private use was.

'What took big banks so long to shut Gupta accounts?', Pieter-Louis Myburgh asks

'What took big banks so long to shut Gupta accounts?', Pieter-Louis Myburgh asks

Journo Pieter-Louis Myburgh says other banking execs need to be questioned about their potential complicitness in the Gupta saga.

Cape Town dams on 70% for the first time since 2015

Cape Town dams on 70% for the first time since 2015

Cape Town's dam levels have hit the 70% mark but experts say Capetonians still have to be cautious in their water consumption.

'Cannabis should be given the same treatment as alcohol and tobacco'

'Cannabis should be given the same treatment as alcohol and tobacco'

Dagga Party's Gareth Prince on Constitutional Court handing down today's judgment on whether or not to decriminalise cannabis use.

Standard Bank's Ian Sinton implicates two cabinet ministers in state capture

Standard Bank's Ian Sinton implicates two cabinet ministers in state capture

Standard Bank’s head of compliance Ian Sinton told the commission two ministers bullied the bank not to close Gupta's accounts.

17-year-old learner killed teacher for not allowing him to jump the food queue

17-year-old learner killed teacher for not allowing him to jump the food queue

Spokesperson for Education department says the fact that this learner is still in Grade 10 at 17 may indicate there is a problem.