The National Assembly has approved the Special Appropriations Bill that brings the Eskom a step closer to a bailout of R59bn over the next three years, with Finance Minister Tito Mboweni saying the utility’s problems were not just financial.

He said there is a need to apply a complex theory to find lasting solutions to solve the challenges at the embattled power entity.

“We must appoint the correct board of directors, we must appoint a competent management team. And we must then be in a position to hold the board of directors and the management team accountable for the operations of Eskom. The problem at Eskom is not just financial,” Mboweni said.

Mboweni said earlier that while it was easy for MPs to call for additional funding support for struggling state entities, they need to indicate where the resources will come from in a struggling economy where tax revenues have been on a decline.

“So when I hear members say Eskom must be funded, Eskom must be funded. Okay, I agree, but tell me where I should take the money from? There has to be a give and take. You can’t have everything at the same time,” said the Minister.

The motion passed despite objections by the EFF, DA, ACDP, FF Plus and the UDM.

“And if we are going to reduce a complex problem to the lowest common multiplier, being the financial problem, we are not solving the problem. We need to approach solutions to Eskom via complex theory, understand the complexity of the issues we are dealing with in order to come out with complex solutions,” he said.

“The Bill will be sent to the National Council of Provinces for concurrence,” said House Chairperson Cedrick Frolick.


Please enter your comment!
Please enter your name here