Eskom R1-billion/month theft estimate ‘conservative’: De Ruyter
of South Africa’s state power utility said he probably underestimated when he put the amount of money that’s being stolen from the company at R1-billion/month.
Debt-strapped Eskom is currently implementing daily blackouts because its dilapidated power plants are unable to supply enough electricity to meet demand and it doesn’t have the money to invest in capital equipment. It’s been given a R254-billion debt-relief package under strict conditions that the bailout is only used to repay loans and settle interest payments, meaning it has to find money to repair its plants elsewhere.
De Ruyter referred the committee to the Hawks, a police unit that investigates high-profile crimes, to better determine the detail that could be provided by various investigations. Organised groups that mainly focus on crimes related to coal supply are associated with specific power stations and have their own identities including the Presidential, Mesh-Kings, Legendaries and Chief Cartels, he said, citing the findings of an investigation.
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