Eskom was one of the primary targets of State Capture. It is no coincidence that the balance sheet of Eskom shows that its current indebtedness exceeds R400-billion. A large proportion of that debt is attributable to the ravages of State Capture.
100MW renewable licence threshold removed;
Own solar incentivised: Eskom will develop a new price structure to encourage businesses and households to install solar power and connect to the grid; and State Capture saw its heyday during the Zuma years, but long before they dawned, the ANC was using Eskom procurement as an illegal fund-raising tool for the party. By way of example, thesaw Hitachi fined for corruption in the US. This occurred with the ANC sailing on with impunity and an injection of over R5-billion in its coffers, according to the research of Prof William Gumede.
There is no rocket science involved in international debt collection. With the right amount of political will the freezing, seizing and recovery of loot is possible in most jurisdictions to which the loot has been removed by those involved in State Capture and other forms of serious corruption that have impacted so negatively on the balance sheet and abilities of Eskom to keep the lights shining.
It is also so that the IFP has long championed the establishment of a new Chapter Nine institution to counter serious corruption. In March 2019 the president undertook to mull over this “refreshing” idea. He is still mulling, but no evidence of action on his part has emerged.
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