There is some progress in Eskom’s finances – DPE Committee – POLITICS

Board says they’re dealing with loadshedding positively and would deliver progress report in three months

Public Enterprises Committee briefed on Eskom’s finances and unbundling process

23 February 2022

The Portfolio Committee on Public Enterprises together with the Select Committee on Public Enterprises and Communication were today briefed by Eskom on the entity’s mid-term results, the unbundling process as well as energy security.

The power utility’s board and management told the joint meeting that the finances were improving and that the process of unbundling the company into three separate entities was on track.

Mr Andre De Ruyter, Eskom’s Group Chief Executive Officer said: “Although our balance sheet remains stressed, there is some progress in our finances, we have reduced debt by 15 percent.”

He conceded, however, that operations remained their biggest difficulty, with the country still experiencing loadshedding. Eskom board Chairperson assured the committees that they were dealing with loadshedding positively and would be giving a progress report in the next three months.

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