State-owned power utility Eskom made a loss of R16 billion in the 2019/20 financial year, compared to R20 billion in the previous year, Acting Director General of the Department of Public Enterprises Kgathatso Tlhakudi has said.
On Wednesday evening, officials from the department of public enterprises and Treasury briefed Parliament’s Standing Committee on Appropriations on the financial challenges facing state-owned enterprises Eskom, SAA and SA Express.
The management of these public entities also participated in the meeting.
Tlhakudi said that the cash generated from operations have been insufficient to meet Eskom’s debt obligations. But Eskom’s cash position had been bolstered by government’s R49 billion support package and has since improved to R23 billion.
The power utility has also managed to achieve R9 billion in savings.
(Compiled by Inside Politics staff)
