“Eskom is a bankrupt company”

During a meeting of the Standing Committee on Public Accounts (Scopa), Democratic Alliance MP Alf Lees stated that Eskom, South Africa’s power utility, is a bankrupt company. Acting CEO Calib Cassim agreed with the assessment and acknowledged that Eskom cannot manage its debt without assistance.  

Lees urged Eskom to meet with George Fivaz Forensic and Risk to investigate an intelligence report initiated under former CEO André de Ruyter. Lees also criticized the company for giving a 7% salary increase to its staff while facing financial challenges.  

Cassim acknowledged the need for government support in meeting Eskom’s debt obligations and highlighted the impact of municipal debt on the utility’s liquidity.  

Eskom has requested a meeting with George Fivaz Forensic and Risk to discuss the intelligence report. Lees emphasized the urgency of accessing the report’s contents to address the root causes of Eskom’s problems. 

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