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After the collapse of profit, Skom dropped



File Image / ANA
Johannesburg-Escom and its profits have fallen by 89 per cent in the last six months. There is no hope in the ending of September.

It is used to apply the operating expenses of users and municipalities.

This is in a permanent position to compensate for losses.

The consumer has more than R400 billion debt and 72 percent gearing, said chief executive Fakanini Haddby.

We do not have enough money to make our debts that have spent 10 years running from R40bn to R400bn in 2007, "Hadebe said, adding that the R250 bin invested in a 3500-megawatt production program still needs to be improved.

Escom's revenue fell to R67.1 billion in the first quarter of the R6.3 billion rand, while financial expenditure rose to R15.2bn from R11.9bn.

This tool has been improved in lubation with the R52bn funding for the financial department of 2018/19.

The operating cost and mechanization of the Wage Bills increased by 25% from R13.6 billion in March this year to RNB.

"Escalation can not solve the sustainable economic and financial challenges it might face," said new finance officer Kalib Kasim.

"The tariffs can not be solved by reducing the cost, but the debt exceeds the problem."

The municipalities argue that escalating invoicing in Escom is higher than the R9bn of the loan.

Escom's financial position came from the members of the former Chairperson Sol Saotsi, Ben Ngaban and Sétembe Khosa, former chief executives Brian Molif and Matt Lee Koko, to recommend action against injustice.

The 14 senior executives involved in the corruption scandal have opened 12 criminal cases, including nine senior executives. Since April 2018, there are a total of 1049 cases. 858 of them will be included in the final list.

Eight regulatory institutions examine lifestyles for senior management.

Energy Analyst Ted Blom said he would fight for escort without long-term coal supply, proper plant management and safe funding.

Business report


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