Eskom projected to make a full-year loss of R20bn, says chairman.
This is despite a raft of government bailouts having been awarded to the utility into 2022, SowetanLIVE's sister publicationEskom is saddled with more than R450bn in debt, with the National Treasury and the International Monetary Fund labelling the power utility as the greatest risk to SA.
For the six months ended September, Eskom reported a seemingly better set of results than it did in July, when it reported a record loss of R21bn for the year ended March 2019. Its interim profits for the period more than doubled to R1.3bn compared with 2018. At its interim results presentation, Eskom chair and acting CEO Jabu Mabuza warned there were a number of factors that would come into play in the second half of the financial year, and the utility was expected to make another loss of about R20bn for the 2019/2020 financial year, after the R21bn loss in 2018/2019.
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