Eskom records R12.3 billion net loss in 2022, down 51% from 2021
Eskom CEO Andre De Ruyter said the power utility recorded a R12.3 billion net loss in this financial year ending March 2022 – an improvement from R25 billion in 2021.
He made the announcement on Friday following the power utility’s annual general meeting.
While this is still a considerable figure, De Ruyter said the current financial results show an improvement across all profitability metrics.
“Sales volumes were moderately up after a recovery and demand following the COVID pandemic. Then we saw the balance sheets continue to show some improvement. But…we spent approximately R70 billion on both repayment of debt as well as interest pay.”
-EWN
In other news – PICS: Shauwn Mkhize (MaMkhize) allegedly gets a BBL and here’s why
South African businesswoman and reality TV star, Shauwn “MaMkhize” is living her best life, posting up a storm during her luxury vacation in the Maldives. But judging by her pictures, followers are convinced that the Royal AM boss has either had plastic surgery in the form of a Brazilian butt lift (BBL) or has had her Instagram images drastically altered.
The businesswoman and the rest of her family – including son Andile Mpisane – are enjoying a break on the tropical island. Learn More
