As load shedding intensifies, municipal debt to Eskom climbs to R50 billion; government tries to calm investor fears over greylisting; retirement industry says it’s not ready for the two pot system; and Mkhwebane’s lawyer threatened MPs in parliament and many now face his own legal troubles.
As Eskom is once again forced to implement constant load shedding, municipalities have racked up R50 billion in debt owed to the power utility by the non-payment of electricity bills. As of 31 July 2022, 96 of 278 municipalities in South Africa were indebted to Eskom, with the Free State carrying the biggest burden of R16.7 billion. Maluti-a-Phofung municipality in the Free State owes Eskom R6.7 billion alone.
However, the Association for Savings and Investment SA said that it would take at least 18 months from the gazetting of the final regulations to get the system in place. Public hearings into the system are currently underway. [Embattled public protector Busisiwe Mkhwebane’s controversial lawyer, Dali Mpofu, may soon face investigations and sanctions all his own after threatening MPs in parliaments. Mpofu told an ANC: “You’re going to regret this. Your day will come.
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