Eskom’s municipal debt has escalated to about R60 billion, as some of the country’s cash-strapped municipalities continue to fall behind on payments.
The staggering figure is now R13 billion more in the 2022/2023 financial year than it was in the previous year.
Eskom released its latest annual results on Tuesday.
The power utility said that the mounting debt, as well as money lost through corruption, were among the biggest factors contributing to its bottom line posting massive losses.
Eskom supplies electricity to more than 230 municipalities, with Maluti-a-Phofung and Emalahleni counted among the biggest defaulters.
Eskom’s head of distribution, Monde Bala, said that a total of 67 municipalities had applied for debt relief.
“These 67 total about 95% of these arrears debt so the bulk of the municipalities are doing what they need to do. Of those 67, 28 have already been approved by National Treasury and we’re working with the remaining 39 to get them over the line. Of the ones that have been approved, there has been some improvement in terms of their payments – some are adhering fully to their current account obligations. Those that are still struggling are getting there.”
-EWN
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The talented DJ had been trolled several times by fans saying he was not man enough. All this negativity did not stop him; he only continued dancing and enjoying himself. This time, he went wild, celebrating the Springboks’ win, spinning on the couch and running around the house. Read More
