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No leave for Eskom's senior managers and no restructuring at the SABC

7 December 2018 10:52 AM
Deputy Editor at Financial Mail gives an analysis of financial news that made headlines in the week.

Beleaguered Eskom has dominated the headlines this week.

On Thursday Public Enterprise Minister Pravin Gordhan announced that he has decided to cancel all leave for senior managers in order to tackle the various the crises at the power utility.

Financial Mail's Sikonathi Mantshantsha says Eskom is well on the way to dragging the country back into recession.

Minister Gordhan has also committed to getting as much coal as possible to power stations to minimise load shedding.

Read: 'Cleaning up Eskom doesn’t suit everybody. Hands off! Don’t be treasonous!'

He says there will be no load shedding till 15 January because big businesses will be closed and there will be very low electricity demand.

Sikonathi Mantshantsha, deputy editor at Financial Mail

He says by March next year load shedding will be a thing of the past.

Sikonathi Mantshantsha, deputy editor at Financial Mail

In other news, Mantshantsha looked at the SABC's board resignations which halted the restructuring at the public broadcaster.

Mantshantsha says this means there is no functioning board at the SABC until Parliament comes back in session and conduct interviews.

There will; be no restructuring at the SABC and already for the past year it has not been able to pay all its creditors because there is still hope that you and I will give it another R 3 billion to keep it going.

Sikonathi Mantshantsha, deputy editor at Financial Mail

To hear the rest of the analysis by Sikonathi Mantshantsha, listen below:


7 December 2018 10:52 AM