'Between 1923 and 2008 Eskom received no fiscal support – not a cent'
Eskom was founded in 1923.
Between then and 2008 (85 years!) it received no bailouts – not a cent - from taxpayers, says University of Cape Town energy policy and investment specialist and advisor Professor Anton Eberhard.
Over the last decade, Eskom received a life-stealing R83 billion in support.
In 2020 Eskom gets R49 billion while taxpayers will fork out another R112 billion over the coming three years.
Bailouts to South Africa's state-owned enterprises are ballooning without any demonstrable progress in restoring their financial health. Eskom received no fiscal support between 1923 and 2008. Then over the last decade - R83 billion; this year - R49 billion; next three years - R112 billion. Completely unsustainable.Anton Eberhard, energy policy and investment specialist - UCT
Bailouts to South Africa's state owned enterprises are ballooning without any demonstrable progress in restoring their financial health. Eskom received no fiscal support 1923 - 2008; then over last decade - R83bn; this year - R49bn; next 3 years - R112bn. Completely unsustainable pic.twitter.com/FKiXokcyNk— Anton Eberhard (@AntonEberhard) February 26, 2020
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